Taiwan Based Companies To Expand Presence In India
- Taiwan wants to expand its presence in the Indian market amid the ongoing trade war between the US and China
- Taiwan-based companies have invested around $360 million in India last year, twelve times their investment in 2016
According to a recent report by ET, Taiwan- based companies are looking to invest in the Electric vehicle space and technology sector in India. Taiwan wants to expand its presence in the Indian market amid the ongoing trade war between the US and China.
Ambassador Chung-Kwang Tien told the news daily that Taiwan-based companies have invested around $360 million in India last year, twelve times their investment in 2016, and are likely to invest more going ahead.
He further stated that a lot of Taiwanese investment was earlier concentrated in the ASEAN countries, but India has emerged in the last decade as a regional power and a manufacturing hub and our companies have the right products and solutions for this market. The Indian government’s initiatives like ‘Make in India’, Digital India, smart city programme, coupled with their pro-business stance provide a good opportunity.
He also told ET that the trade volumes have increased, and so has the investment of their companies in India. They cannot compete with Japan and Korea since they came in much earlier, but they are catching up with big numbers.
RT Tsai, vice president, Delta Electronics told ET that they have already invested more than $60 million in the past decade in India. They are looking at renewable energy solutions, wastewater treatment, electric vehicle and charging stations. Delta Electronics is Taiwan’s power and thermal solutions provider.