New Delhi, March 25: India and Taiwan’s bilateral trade is projected to grow by 17% annually, reaching $12.5 billion by 2025. This information was released by the Taipei Economic and Cultural Center (TECC).
India’s exports to Taiwan have risen to $3.3 billion, including mineral fuels, aluminum, iron, steel, organic chemicals, and plastics. Conversely, Taiwan’s exports to India amounted to $9.2 billion, featuring electronics integrated circuits, plastics, organic chemicals, electrical machinery, iron, and steel.
According to a report from the Asian Community News website, during the launch of the ‘Taiwan Excellence’ expo event, Estella Chen, Director of TECC’s Economic Division, stated, “Taiwan plays a leading role in semiconductors, AI servers, AIoT total solutions, and edge computing.”
Last year, the bilateral trade between Taiwan and India reached a record high of $12.5 billion. This growing economic relationship is fostering increased investment and deepening trade cooperation between both parties.
Chen further noted that Taiwanese companies are actively investing in India’s electronics manufacturing, semiconductor, and automotive sectors, while Indian companies are exploring valuable opportunities in Taiwan’s IT and engineering fields.
She expressed pride in Taiwan being a reliable partner in India’s major initiatives, such as Digital India and the India AI Mission.
Chen added, “From smartphone and IoT manufacturing to advanced high-technology product design, Taiwan’s expertise is committed to collaborating in India’s digital transformation.”
Currently, the number of Taiwanese companies operating in India has exceeded 300.
However, compared to Taiwan’s bilateral trade with other countries like the United States ($246.43 billion), China ($100.1 billion), South Korea ($90.2 billion), and Japan ($84.85 billion), there remains significant potential for further progress in trade with India.
–
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment