In the past five years up to 2023, Taiwan’s investments in to India have grown to $665 million, particularly driven by the trade conflict between the US and China. James Huang, chairman of the Taiwan External Trade Development Council says, in comparison, Taiwan’s FDI in to India during 2006 to 2017 was mere $277 million. “It is evident that more Taiwanese companies are moving supply chains out of China and are establishing them in India,” he added.
Taiwan’s Powerchip Semiconductor Manufacturing Corp has partnered this year with India’s Tata Group to build the first semiconductor fabrication facility in western Gujarat state, relying on a $10-billion incentive scheme.
