I already answered you more than once about your misconceptions or misinformation about Indian basic manufacturing, in my sibling comments to this one.
And as others have said, importing is not done only due to inability to make the products at home. Sometimes it is done for pure cost /benefit reasons. That should be pretty damn obvious to anyone, but looks like you missed that out in your assessment. Even so-called first-world / developed countries do it. What do you think the outsourcing from such countries to India for software development is about? It is about exactly that, at least some. You are a software guy, so you should know this. I am one too. If you work for them, do you think they would hire you in India, all other things been the same, if your price was the same as equal people in the US or Europe? Of course not. It would be easier for them to deal with their local people than someone partway or halfway across the world. Get real.
Do you know that we also export plenty of things, many of which go to developed countries too, and to other developing countries, and that some of the latter cannot manufacture some of the things we do?
As for your point about why we manufacture or are trying to manufacture semiconductors, that has also been answered by others, so I will not comment. Having some amount of self-reliance is the answer. Not just profit.
Same for our space program, satellites, etc, which I did comment about in reply to somebody else in this thread.