India Taiwan Business Relationship

Talks between India and Taiwan for signing a Free Trade Agreement are underway for a while now. Both the nations have started negotiations with a primary focus on setting up of a semiconductor manufacturing hub in India by a Taiwanese firm.  Taiwan wants to move its businesses away from China and India wants to become a global hub for semiconductors. A successful agreement would help both the countries.Taiwan is eyeing the possibility of establishing a representative office in Mumbai given the huge potential for investments and manufacturing in the states of Maharashtra and Gujarat.

India -Taiwan trade relations always been low-key because of Indian apprehension about possible reactions from China.Recently the relationship between India and Taiwan is going through some important changes. All these developments are slow-paced although it appears now that India intend to expand and strengthen its economic ties with Taiwan significantly. 

Taiwan’s deputy minister of economic affairs, Mr. Chen Chern-Chyi,  was on an official visit to India recently. He addressed a delegation of businessmen and investors including IT companies with the goal of accelerating the pace of cooperation between India and Taiwan. Discussion between two countries are going on regarding a number of issues like a free trade agreement (FTA) , cooperation on semiconductor and supply chain issues. 

Taiwan is considered a leader in semiconductor manufacturing and India is keen to develop its semiconductor ecosystem with a goal of becoming g as “a global hub for electronics manufacturing and design.” These collaboration with Taiwan will help India. From building an exclusive township to setting up a massive semiconductor facility, Taiwan is looking to collaborate in all sphere. 

Courtesy : www.pngegg.com