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All eyes on Taiwan minister Chen Chern-chyi’s India visit

Amid lukewarm ties with China and as part of efforts to create critical supply chains, India will host a ministerial delegation from Taiwan this week along with an industry delegation.

Taiwan’s deputy minister of economic affairs Chen Chern-chyi will travel to Delhi next week. The visit is being planned as Taiwan aims to set up a semiconductor manufacturing industry in India and focus on FTA.

Taiwan is willing to share its expertise with India in critical sectors such as semiconductors, 5G, information security, and artificial intelligence.

Baushuan Ger, Taiwan’s representative to India, had said a few weeks ago that both nations should sign the FTA at the earliest. The representative stressed that the agreement could eliminate all barriers to trade and investment and help in the creation of a resilient supply chain.

ET Bureau

A joint venture by Taiwan’s electronics manufacturing giant Foxconn and India’s metal-mining behemoth Vedanta to build a semiconductor plant in Gujarat could start producing 12-inch wafers using the 28-nanometer process as early as 2025.

India’s economic interaction with Taiwan has gained momentum in the past decade with several bilateral agreements in agriculture, investments, heritage railways, civil aviation, DTAA, industrial cooperation, SME cooperation, customs cooperation, among others.

Collaboration of small and medium enterprises is another focal area. Both sides have strengthened ties in important areas of policy sharing, technological assistance, innovation, entrepreneurship and business incubation, market development, as well as capacity and capability building.

Bilateral trade between India and Taiwan grew from $2 billion in 2006 to $5.7 billion in 2020, registering a 185% growth. On the investment front, around 106 Taiwanese companies – with total investment (actual and proposed) of about $1.5 billion – were operating in India in various sectors including information and communication technology, medical devices, automobile components, machinery, steel, electronics, construction, engineering, and financial services.

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