India's semiconductor crunch: Chips become 3rd-largest import
Integrated circuits (ICs), the tech inside everything from smartphones to laptops, have jumped to become India's third-largest import, hitting $12.62 billion between April and December of FY26 (i.e., April-December 2025).
With demand for chips only growing, the government expects IC imports to climb even higher throughout FY27 (April 2026-March 2027), but is also pushing hard to make more of them at home through the India Semiconductor Mission (ISM).
India working to cut down on imports
To cut down on imports and build up local tech muscle, the ISM has already helped launch one chip assembly plant, with three more set to open this year.
Micron Technology just kicked off commercial production at its massive new Gujarat facility, while CG Power, Kaynes Technology, and Tata Electronics are all gearing up to start making chips soon.