56% of India’s electronics imports come from China, Hong Kong: GTRI
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New Delhi: India’s imports of electronics, telecom, and electrical products soared to $89.8 billion in 2023-24 and over half of these imports are sourced from China and Hong Kong, economic think tank GTRI said in its report.
China dominates with a commanding 43.9 per cent share of India’s imports in electronics, telecom, and electrical sectors, the Global Trade Research Initiative (GTRI) said.
The data highlights a deep-seated dependency on these two countries that has seen a dramatic escalation over the years, it added. It said that reducing this dependency is crucial, not merely to boost economic resilience but to safeguard India’s digital and technological sovereignty in a world that is becoming ever more interconnected.
“These sectors are integral to the daily lives of millions, enhancing communication, commerce, and information access. However, India’s heavy dependence on imports, especially from China, presents formidable challenges to the nation’s strategic autonomy and economic security,” the report said.
GTRI Founder Ajay Srivastava said that this profound reliance on Chinese imports exposes severe vulnerabilities within India’s supply chain and underscores the pressing necessity for strategic diversification of sources and enhancement of domestic production capabilities.
In the electronics segment, the report said that integrated circuits have experienced a significant import growth from $166.1 million during 2007-2010 to $4.2 billion in 2020-2022.
