Summary:

As global tensions escalate, Taiwanese enterprises are shifting their supply chains to India, bolstering relations between Taipei and New Delhi. Chairman James Huang highlighted Taiwan's significant FDI surge in India, surpassing US$ 665 million over the past five years, compared to nearly US$ 277 million from 2006 to 2017.

Taiwanese enterprises are diversifying from China to India, focusing on industries such as mobile phones and footwear. Despite the absence of formal diplomatic relations between India and Taiwan, economic collaboration continues, driven by India's interest in Taiwanese investments, particularly in advanced industries like semiconductor fabrication.

Taiwan's Powerchip has partnered with India's Tata Group to establish Gujarat's inaugural semiconductor facility under a $10 billion program. Initiatives to train Indian talent in Taiwan, especially in semiconductors, underscore substantial potential for bilateral cooperation. Two-way trade reached US$ 10.1 billion in FY24, highlighting the growing economic ties.

Source: IBEF 

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