Semiconductors, A Biggest Economic Choke-Point of the 21st Century

Semiconductors are the soul of all electronic devices and a key player in the global economy. They became a basic necessity of human life and were utilised in every corner of the globe. They are used to design, build, and modernise the technology systems that the world depends on every day. But the production of semiconductors and related electronic products in India is grossly insufficient in comparison to its demand. Even though electronic products are manufactured in India, the domestic value addition to the product is low (source: The Ministry of Electronics and Information Technology, MeitY), which results in lower consumer acceptance. Because of this, India’s electronic imports far exceed its exports. Hence this paper explores the growth of electronic sectors that use semiconductors and the impacts of exports and imports of semiconductors and electronics in India. The research process involved the study of various factors that impact the semiconductor industry, including government policy, market environment, competitive landscape, present trends in the market, technological development, and the rise in the demand for basic electronic devices.