New Delhi. Chip imports from China are set to fall 23 percent in the first quarter of 2023 after the US and India boosted local semiconductor manufacturing. This information was given in the media report on Friday. According to data from the General Administration of Customs, China imported 108.2 billion integrated circuits (ICs) between January and March this year, down 22.9 percent from the same period last year. According to the data, the total value of chip imports dropped 26.7 percent to $78.5 billion from $107.1 billion last year.
IC exports fell 13.5 percent year-on-year “China’s IC exports fell 13.5 per cent year-on-year to 60.9 billion units in the first three months of 2023, compared with a 4.6 per cent decline a year earlier,” the report said, citing customs data. The total value of the goods fell by 17.6 per cent. This significant decline reflects how geopolitical tensions and increasing US sanctions on China have disrupted semiconductor trade between the country and the rest of the world.
Rs 76,000 crore investment approved US President Joe Biden recently enacted the Chips and Science Act last year, which enables the US to attract more chip manufacturing to the country. Meanwhile, the Indian government approved Rs 76,000 crore ($10 billion) to attract investment in the semiconductors and display manufacturing ring. India and the US last month signed an agreement to establish a semiconductor supply chain and innovation partnership under the framework of the India-US Commercial Dialogue.
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