The country's indigenous production of electronic goods will more than double to Rs 8.25 lakh crore in 2022-23, up from Rs 3.88 lakh crore in 2017-18, Parliament was told on Wednesday.

In a written reply to the Lok Sabha, Minister of State for Electronics and IT Rajeev Chandrasekhar stated that semiconductors worth Rs 1,29,703 crore were imported in 2022-23.

"As a result of several government initiatives and industry efforts, domestic production of electronic goods has increased significantly from Rs 3.88 lakh crore (USD 60 billion) in 2017-18 to Rs 8.25 lakh crore (USD 101.9 billion) in 2022-23 at a compound annual growth rate (CAGR) of 16.28 percent," the minister said.

He added that the government is focused on its goal of catalysing the overall semiconductor ecosystem in order to further expand India's already rapidly expanding electronics manufacturing and innovation ecosystem.

The minister stated that because semiconductors are a major component of all electronic products, the semiconductor market in India has grown proportionately in recent years as a result of growth in the electronics manufacturing sector.

"According to the Directorate General of Commercial Intelligence & Statistics (DGCIS) portal, due to the lack of commercial Fabs in India, semiconductor chips worth Rs 1,29,703 crore were imported in FY 2022-23," Chandrasekhar said.