PLI footprint in India-China trade

India's goods imports from China during FY23 touched $98.5 billion, at a growth rate of 4.2 per cent, while India's global imports grew at 16.1 per cent during this fiscal year

Three data points indicate India’s imports from China are slowing: Lower electronics imports in FY23 than in FY22, lower growth in overall imports from China as against global imports, and a declining share of China in India’s imports in the past five years.

Is this an early sign of India’s inching away from many dependencies on China? Let’s see the details.

India’s import of electronics products (HS85) from China has decreased from $30.3 billion in FY22 to $27.6 billion in FY23. The slide is notable in electronics items, where the PLI (production-linked incentive) scheme is operational. For example, between FY22