RT team
India is swiftly becoming a preferred destination for Taiwanese investment, potentially drawing up to $15 billion into sectors such as electronics and electric vehicle (EV) infrastructure. This is outlined in a recent report by the Federation of Indian Chambers of Commerce and Industry (Ficci), which discusses the numerous advantages India offers as a partner for Taiwanese enterprises.
Titled “Unlocking the Potential: The Benefits of India as a Partner for Taiwanese Enterprises,” the report underscores India’s appeal due to its large domestic market, cost-effective manufacturing landscape, and favorable investment policies. These factors collectively make India an attractive option for Taiwanese companies aiming to broaden their global presence.
By 2030, the demand in five critical sectors within India is expected to surge to $170 billion. This projection presents a valuable opportunity for Taiwan, known for its high-tech prowess, to capitalize on India’s economic expansion.
In fiscal year 2024, trade figures included $1.84 billion in exports to Taiwan and imports worth $8.28 billion from Taiwan, primarily comprising electronic components and telecom instruments.
Ficci’s analysis emphasizes the reciprocal benefits of enhancing ties between the two countries, highlighting how Taiwan’s advanced technology can synergize with India’s growth trajectory. Initiatives like the India Semiconductor Mission (ISM) and the Production-Linked Incentive (PLI) scheme, coupled with substantial improvements in infrastructure and logistics, are strategic moves that bolster India’s position as an ideal hub for Taiwanese firms looking to scale globally.
The report champions a partnership that not only aligns with Taiwan’s focus on sustainability and robust relations but also positions India favorably against other Southeast Asian nations. Together, India and Taiwan are set to strengthen supply chains, push technological advancements, and tackle global economic challenges.
