Konark Bhandari
In recent years, Taiwan vaunted semiconductor industry has stepped into the limelight, as policy wonks discuss lessons derived from its technological prowess, artificial intelligence, and now even export control regulations. Lastly, no debate on de-risking and onshoring is complete without examining the role that Taiwanese electronics and semiconductor companies play in the ongoing recalibration of global supply chains.
At the same time, India has been keen to position itself as an alternative for companies that are pursuing a “China plus one” strategy. In light of this, India is increasingly seeking investment from Taiwanese companies to offset Chinese influence on its own industry. This article examines what India could do to enhance its engagement with Taiwan’s semiconductor industry—and why Taiwan should look favorably to India as a destination for investment. It outlines specific focus areas where India could elicit further investment from Taiwan, and offers recommendations for how to boost economic cooperation between the two nations.
The ideas presented in this article reflect discussions held during a virtual discussion hosted by Carnegie India in March 2024 on economic relations between Taiwan and India. The themes and suggestions presented in this article also take stock of both countries’ industrial policy frameworks and how to boost bilateral economic cooperation accordingly.
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