India has moved rapidly up the rankings to become one of the most favorite investment destinations for Taiwanese companies. In PCBs, electronic components, and electric vehicle infrastructure, investments worth $15 billion could be expected to flood the country.
Actually the commitment is visible from the latest report by the Federation of Indian Chamber of Commerce and Industry (FICCI) body.
Unlocking the Potential: The Benefits of India as a Partner for Taiwanese Enterprises This report succinctly highlights the potential of the burgeoning domestic market, low costs of manufacturing, and investment-friendly policies as some attractions promoting Indian engagement to Taiwanese businesses seeking to enhance their global outreach.
The report reflected that around 2030, the demand from the five min segments may reach $170 billion milestone opening sizable opportunities for the Taiwan’s modern technologies to leverage in the expanding Indian market.
“India’s young and burgeoning population, combined with leaps forward in technology and infrastructure, are propelling this nation’s economic ascent to potentially surpass that of many of its peers around the world in the not-too-distant future,” the report said.
During FY24, India’s exports to Taiwan were $ 1.84 billion, and imports came to $ 8.28 billion; mainly on account of electronic components and telecom instruments.
It mentioned two-way benefits of creating close co-operation between the two nations. It also pointed out that Taiwanese enterprises have a distinct opportunity to contribute towards and reap benefits from India’s growth curve given their high-tech expertise.
Taiwan’s strength in technology plus India’s burgeoning market space is in itself a win-win for both countries, according to the report. It also lauded India’s pro-investment initiatives, such as the India Semiconductor Mission and the Production-Linked Incentive scheme, plus improvements in infrastructure, making it an appropriate partner for Taiwanese companies that have long been eyeing global expansion.
