Cover Story

The price we pay: How India can reduce its huge dependence on imports
Not all imports are bad, but is the Indian economy depending too heavily on foreign shipments? and can it continue to afford not making enough in India?

2026-07-05

Technologist and academician G. Venkatesh on how tech companies should adapt AI amid dynamism

G. Venkatesh, Director, School of Technology, Dhirubhai Ambani University, Gandhinagar, Gujarat, and Fellow and Director, Sasken Technologies.

Deep Dive

Behind India's imported aviation infrastructure

The world's third-largest aviation market does not manufacture a single commercial aircraft, an engine, a simulator, or the software that books its tickets. recent developments suggest that efforts are being made to overturn that perception.

Base metals: Where India’s metal really comes from

The metallic backbone of all manufacturing activities is increasingly arriving by ship rather than from an Indian mine or smelter.

What can India do to reduce dependence in the defence sector?

India continues to remain the world's second-largest defence importer. The dependence is worryingly high for some critical equipment.

Can India develop a self-sustainable AI ecosystem?

India's overdependence on foreign artificial intelligence models risks a large forex outflow, especially as many of them are currently free for end users. Can local alternatives catch up to arrest dollar flight in this foundational tech?

Pharma: Can India take advantage of a China+1 opportunity

India exports pharmaceuticals worth $30.5 billion annually but remains heavily dependent on China for raw materials. This is emerging as one of the biggest challenges facing the country's healthcare and manufacturing ambitions.

Behind India's import dependence is solar installations

India's solar installations have multiplied tenfold in the past decade but it's heavily dependent on imports, with 98% of wafers and 100% of polysilicon sourced from China.

Much of India’s technology stack is built on technologies developed elsewhere

Beneath India's technology success story lies an uncomfortable reality. The country still runs much of its digital future on a borrowed stack. Can it control technologies that underpin the digital economy?

Semiconductors: Can India have its own Silicon Valley?

India's semiconductor ambitions are taking shape but equipment, materials and technologies powering them still come largely from abroad. Can India truly be self-sufficient?

China Inside: How India can break China’s hegemonic hold on critical minerals

India's dependence on China for critical minerals is growing at a rapid pace as electric vehicles and battery energy storage systems become mainstream. Can it remove the chokehold?

How India can cast off food security’s foreign crutch

With appropriate policy responses, import dependence in edible oils, pulses and fertilisers can be reversed.

Trends

Good Life: Ready for Take-Off with New Luxury Cabin Cases

Sleek, smart and designed for the discerning traveller, these new luxury cabin cases are redefining what it means to travel light.

Columns

A case for self-reliance: Ashwani Mahajan, National Co-Convener, Swadeshi Jagran Manch and Former Professor, PGDAV College

The degree of import dependence is not uniform across sectors, but in some areas, it has reached dangerous levels.

India Should Resist Import Substitution: Sajjid Z. Chinoy, Head of Asia Economics, J.P. Morgan

To protect against import concentration from any one country, diversifying imports across multiple economies is crucial.

Why Ecosystems are Key to Manufacturing Competitiveness: GTRI Founder Ajay Srivastava

India opened its economy but failed to build industrial depth.

Interview

"Fossil fuels should be phased-down rather than phased-out," says Environment Minister Bhupender Yadav

Bhupender Yadav discusses India's clean-energy transition, climate finance, pollution control and balancing energy security with national sustainability goals.

Solution to the crisis is reforms to promote exports: Montek Singh Ahluwalia on the impact of the West Asia conflict

Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission, on the impact of the West Asia conflict on the economy, reliance on imports, and how to boost growth.

Macro fundamentals remain strong amidst global uncertainty: EAC-PM Chairman S. Mahendra Dev

S. Mahendra Dev, Chairman, EAC-PM, on economic challenges arising from the West Asia war, the need for improvements in manufacturing, and cutting import dependence.

Magazine

Chained to gold: Why it is vital for India to curb its appetite for the yellow metal

Indians have been a massive consumer of gold jewellery. But with India dependent on imports for 85-90% of the gold requirements, rising prices also put pressure on the rupee, forex reserves and trade deficit. Industry experts call for making recycling more attractive.

Editor's Note