|
The Federation of Indian Chambers of Commerce and Industry (FICCI) has highlighted five key manufacturing sectors in India with substantial investment potential for Taiwan.
The report, titled 'Unlocking the Potential: The Benefits of India as a Partner for Taiwanese Enterprises', identifies a USD 15 billion investment opportunity for Taiwanese companies in India's expanding electronics and electric vehicle (EV) markets. The sectors identified include Printed Circuit Boards (PCBs), electronic components such as semiconductors and passive devices, electric motors, CCTV systems, and smart healthcare products, including fitness trackers and heart rate monitors. The current value of the Indian market in these sectors stands at USD 60 billion. With Taiwan's industry targeting both domestic and export markets, this partnership is viewed as a pathway to significant growth. By 2030, demand across these five sectors is projected to reach USD 170 billion, highlighting India's attractiveness as an investment destination for Taiwanese businesses. The report stresses the mutual benefits of closer collaboration between Taiwan and India, emphasising that Taiwan's technological advancements can drive India's rapid economic growth. By leveraging their expertise in high-tech manufacturing, Taiwanese enterprises can tap into India's expanding market, presenting numerous global expansion opportunities while contributing to India's development. India's pro-investment policies, including the India Semiconductor Mission (ISM) and the Production-Linked Incentive (PLI) Scheme, further strengthen its position as a manufacturing hub. These government initiatives, alongside significant improvements in infrastructure and logistics, make India an ideal partner for Taiwanese firms seeking to diversify and de-risk their global operations. The FICCI report highlights India's strategic advantages over other Southeast Asian nations, presenting it as an ideal destination for Taiwanese companies looking to diversify their investments and mitigate risks. Taiwan, renowned for its strong technological and manufacturing capabilities, can find in India a stable business environment, a large and skilled workforce, and favourable government policies. At a time of global economic transformation, the FICCI report outlines how India's focus on economic reforms, infrastructure development, and digital growth has positioned it as a key player on the world stage. India's growing expertise in electronics manufacturing, green energy, electric vehicles, smart cities, and information and communication technology (ICT) aligns with Taiwan's priorities, providing a foundation for strong bilateral cooperation. FICCI has reaffirmed its commitment to fostering India-Taiwan business relations through targeted initiatives. The organisation has established several mechanisms to promote investment and collaboration across industries, opening new avenues for growth and innovation. This collaborative effort represents a shared vision for both nations to strengthen supply chains, advance new technologies, and tackle global economic challenges together. (ANI)
|
