Taiwanese companies have $15 billion opportunities in high-tech manufacturing in India

New Delhi| India is emphasizing on local manufacturing of end-to-end electronics products. Meanwhile, large $15 billion opportunities exist for Taiwanese companies in areas such as printed circuit boards (PCBs), electronic devices and electric vehicle (EV) infrastructure, according to a new report. Other sectors like electric motors, CCTV and smart healthcare (fitness trackers, smartwatches, heart rate monitors) are also promising for Taiwan, the Federation of Indian Chambers of Commerce and Industry (FICCI) reported.

India has a $60 billion target market in these areas for Taiwan. Taiwan industry can invest in these areas for export along with the domestic market. The report estimated market demand in five key sectors to be $170 billion by 2030.

The strong partnership between Taiwan and India has mutual benefits. The findings show how Taiwanese companies can take advantage of India’s rapid growth and contribute their high technical expertise. “The combination of Taiwan’s technological advancements and India’s growing market will create a strategic path for both countries to prosper together”, it said.

Pro-investment initiatives including the India Semiconductor Mission (ISM) and PLI scheme make India an ideal partner for Taiwanese companies with an emphasis on infrastructure and logistics. The report said that India is in a better position than many South-East Asian countries to meet the needs of these strategic partnerships.

With its large skilled workforce, favorable business environment and strong government policies, India is emerging as a top destination for investment in sectors such as electronics manufacturing, green energy, EVs, smart cities and information and communication technology (ICT).