Potential to Get USD 15 Billion Investments from Taiwan in Specific Manufacturing Areas: FICCI Report

Oct 08, 2024

‘Unlocking the Potential: The Benefits of India as a Partner for Taiwanese Enterprises’ — New Study Unveiled by FICCI

NEW DELHI, 08 October 2024: In a recent report released by FICCI titled, ‘Unlocking the Potential: The Benefits of India as a Partner for Taiwanese Enterprises’, five specific manufacturing areas stand out as great potential areas for attracting investments worth USD 15 billion from Taiwan. These five areas are PCBs (Printed Circuit Boards), Electronic Components (like Passive devices, electro-mechanical components, semiconductors etc), Electric Motors, CCTV, Smart healthcare (like fitness trackers, smartwatches, heart rate monitors etc) and EV Charging. The current target market in India for Taiwan in these areas is worth USD 60 Billion and Taiwan industry can invest in these areas for catering not only to domestic market but also exports. The report projects an estimated market demand of $170 billion by 2030 across five key sectors highlighted in the report—creating a highly attractive opportunity for Taiwanese companies, given their strengths in these sectors.

 

The report highlights the mutual benefits of a stronger partnership between Taiwan and India, showing how Taiwanese companies can tap into India's rapid growth while contributing to it through their high-tech expertise. Taiwan’s technological advancements combined with India’s expanding market offers a strategic path for both countries to prosper together.

India's pro-investment initiatives, including the India Semiconductor Mission (ISM) and the Production-Linked Incentive (PLI) scheme, combined with a strong emphasis on infrastructure and logistics enhancements, position India as an ideal partner for Taiwanese companies seeking global expansion.

 

Taiwan places great importance on long-term sustainability, resilience, and building strong relationships with strategic partners. In this context, FICCI report noted that India holds a particularly advantageous position compared to many Southeast Asian nations in fulfilling these strategic partnership needs. India represents a major derisking strategy for Taiwanese Electronics Enterprises across the value chain.

 

FICCI report provides an in-depth analysis aimed at strengthening economic ties between India and Taiwan, highlighting India’s growing economic landscape and the vast opportunities available for Taiwanese businesses seeking to expand globally.

 

At a pivotal time of global economic transformation, the report outlines how India's commitment to economic reforms, infrastructure development, and digital growth has positioned it as a key player on the world stage. With its large, skilled workforce, a favourable business environment, and robust government policies, India is emerging as a top destination for investments in sectors such as electronics manufacturing, green energy, electric vehicles (EVs), smart cities, and information and communication technology (ICT)—all areas that align with Taiwan’s expertise and priorities.

 

Looking Toward a Collaborative Future

 

This report is more than a blueprint for economic collaboration—it is a shared vision for innovation. By working together, India and Taiwan can create resilient supply chains, advance new technologies, and address broader global economic challenges.

FICCI remains committed to nurturing and strengthening India-Taiwan business relations. Through its focused initiatives, FICCI has established key mechanisms to promote investment and collaboration across various industries, paving the way for future growth.