New Delhi — To strengthen and expand bilateral economic involvement, India and Taiwan are focusing on free trade agreements and are considering establishing semiconductor manufacturing plants in Indian cities.
James Huang, chairman of the Taiwan Foreign Trade Development Council (TAITRA) and the first director of Taiwan’s New Southbound Policy Office after President Tsai Ing-wen took over, said the importance of the partnership between India and Taiwan in the Epoch Times. I told the time report.
“In the broader Indo-Pacific strategy, close cooperation of like-minded partners such as Taiwan and India will only bring peace, stability and prosperity to the entire region,” Huang said in an email. ..
India was previously hesitant to sign a free trade agreement with Taiwan because it was afraid of China. However, after the bloody conflict between India and China in the Gallowan River and the subsequent military buildup at the border, India-Taiwan relations began to show serious changes, while India-China bilateral relations began to show serious changes. It started to get worse.
Therefore, while the two countries were talking about free trade agreements, the State Bank of India raised $ 300 million from the Taiwanese market last week, attracting a wide range of investors. According to Taipei Times.. These developments are noteworthy, as India and Taiwan do not share formal diplomatic relations and the world’s largest democracy previously hesitated to enter into trade agreements with island nations.
Mr. Huang, Taiwan’s Foreign Minister from 2006 to 2008, said India was a major partner in Taiwan’s new southbound policy introduced by President Tsai Ing-wen in 2016. This policy is a collaborative effort to expand Taiwan’s presence throughout the Indo-Pacific.
“This policy aims to leverage Taiwan’s cultural, educational, technological, agricultural and economic assets to strengthen Taiwan’s regional integration and promote broader development of the Indo-Pacific region. “We are,” said the Center for Strategic and International Studies in its policy report.
Huang said India, the world’s fifth-largest economy, is the “pillar” of the Indo-Pacific strategy.
“In all these roles, India has great power and greater responsibility. India is a major democracy, a force for good, which makes the world a better place. We are confident of the immense opportunities and future of the Taiwan-India partnership, especially in the post-pandemic digital era, “Huang said.
TAITRA has worked with the Federal Government of India. Investment India Agency Program to set up “Taiwan Desks” in various cities in India to promote investment by Taiwanese companies.
Prime Minister Narendra Modi has set a 20-year vision to make India a world leader. Electronic chip industry. On December 15, the Government of India announced an initial investment of over $ 1 billion (76,000 chlores) in the domestic semiconductor and display manufacturing ecosystem.
Shortly thereafter, Indian media reported that India and Taiwan were also working to build semiconductor manufacturing hubs in Indian cities. Huang told The Epoch Times that the two countries have long been close partners in the field of semiconductors.
“The level of talent and ingenuity that Indian scholars, researchers and engineers have brought to Taiwanese companies such as TSMC (Taiwan Semiconductor Manufacturing Company) is a testament to our close industrial cooperation,” said Huang. ..
Huang said Taiwan’s MediaTek Inc. (MTK), the world’s leading integrated circuit (IC) design company, has already made significant investments in India.
According to Huang, India and Taiwan have new opportunities to share in a new pandemic normal.
Huang said the next 30 years of the world economy will be in the age of software, and India, a democracy, is in perfect alignment with the future path.
“India is a leading supply chain center with unique advantages in digital technology, medical, biotechnology, healthcare and aerospace. Taiwan is a powerhouse of semiconductor, ICT and global supply chain management together. We can build a future that benefits both the two countries and the world. “