America's support to Taiwan, semiconductor companies ready to come to India

India Taiwan Trade: Ever since the Tashan started in China and Taiwan, since then there was a buzz that Taiwanese companies can soon integrate their business with China. This thing got further air when America supported Taiwan. Now the news that is coming out is of great happiness for India. In fact, Taiwanese semiconductor companies are looking for space to set up plants in India. On the other hand, India is also ready to roll out the red carpet for Taiwanese semiconductor companies. If this happens, then lakhs of jobs will be generated in the country, as well as India will move towards becoming the world's largest country in terms of semiconductor manufacturing. Let us also tell you what kind of news is floating in the media reports.

Considering transfer of manufacturing base to India

Amid ongoing tensions with China, top policy makers of the Taiwan government have said that major Taiwanese tech companies are considering shifting their manufacturing base to India to reduce their exposure to the Chinese market. Taiwan's National Development Deputy Minister Cao Shien-qiu said there is huge scope for cooperation between New Delhi and Taipei in several tech sectors, including semiconductor and electronics component manufacturing.

In a conversation with a group of international journalists, he said that major Taiwanese tech companies are looking at India as an important country to strengthen the global supply chain. In view of the increasing trade war between Beijing and Washington and the increasing strength of the Chinese military around Taiwan, Taiwanese companies are considering transferring their production base from China to countries in Europe, North America, America and India. Relations between China and Taiwan have become more tense after US House Speaker Nancy Pelosi's visit to Taiwan in August last year.

India ready to roll out the red carpet

Apart from the world's largest chip maker Taiwan Semiconductor Manufacturing Corporation, India is ready to roll out the red carpet for other major Taiwanese chip maker companies. Whose customers include the world's largest company Apple. Xien-Q said that with the larger context of global supply chain restructuring and the 'China plus one' strategy, I am sure we will see an acceleration of cooperation between the two sides in the semiconductor and information and communication industries.

Production center to be built in India

It is learned that a large number of Taiwanese companies are going to set up production centers in India in two industrial parks, which are being set up exclusively for key Taiwanese industries. An official said on the condition of anonymity that talks are in the final stages for a Taiwanese semiconductor company to set up a manufacturing facility in India.

70 percent of the world's semiconductor is from Taiwan

Taiwan produces more than 70 percent of the world's semiconductors and more than 90 percent of the most advanced chips. Which are essential for almost all electronic components like smartphones, car components, data centers, fighter jets and AI tech.

Negotiations continue to increase trade

Tsun-Tzu Soo said that Taiwan government said that it is trying to negotiate a trade agreement with India to increase your trade. Taiwan-based Foxconn, which is Apple's biggest supplier, has an iPhone manufacturing facility in Tamil Nadu. The company is now setting up another iPhone manufacturing facility in Karnataka, which is expected to start production by April next year.

Bilateral trade grew rapidly

New Delhi and Taipei signed a landmark bilateral investment agreement about five years ago, which aims to protect Taiwanese investments in India. Bilateral trade between India and Taiwan is growing rapidly. The trade between the two has increased from US$ 2 billion in 2006 to US$ 8.9 billion in 2021.

Lots of scope for both the countries

Tsun-Tzu Hsu said that recently, we have seen a new momentum of Taiwanese companies coming to India and expanding operations. Foxconn's expansion is an example of this. Vice Minister Shien-Q said that there is a lot of scope for cooperation between India and Taiwan in the field of semiconductor manufacturing.