Taiwan’s FDI in India to increase by eight times

Taiwan’s direct international funding in India might be eight instances greater than what it’s right now within the subsequent 5 years, Simon Lee, president of Taiwan Chamber of Commerce instructed ET including that these investments will primarily be within the electronics and non-leather footwear sectors over the following three years.

“The China threat has definitely played a greater role in Taiwan’s changing outlook towards India,” Sana Hashmi, a postdoctoral fellow on the Taiwan-Asia Exchange Foundation instructed ET. “Then some companies are also looking at India within China plus one model. Despite such synergies and common interests, several Taiwanese companies are still not very comfortable with the Indian market. Stereotypes coupled with actual problems pose a significant challenge.”

“Investors in Taiwan are looking at India as a bright future in the next 10 to 15 years. India will be a manufacturing hub for the world,” Lee stated whereas highlighting that there have been nonetheless challenges like cultural variations and greedy native rules that saved some Taiwanese companies away from the Indian market.

Lee who can also be the CEO on the Wagon Group was talking on the sidelines of a session on commerce, funding and alternatives in Taiwan and south India organised by Surana & Surana International Attorneys and Taipei Economic and Cultural Center.

At the occasion, it was mentioned that the commerce quantity between India and Taiwan will contact $13 billion within the subsequent three years. Jules Shih, director, Taiwan World Trade Center Chennai stated the commerce quantity between the 2 nations will improve roughly by 50% within the subsequent three years.

Stay on prime of know-how and startup news that issues. Subscribe to our every day e-newsletter for the newest and must-read tech news, delivered straight to your inbox.