Manufacturing
semiconductors — used in electric and hybrid cars, drones, and communication
devices — is fairly complicated, entails huge investment, and can be a
cumbersome process.
Since Taiwan has already established
itself as one of the key global chipmakers, collaboration with India in this
space can be a win-win for both side
Taiwan's
exports to India reached $6.013 billion in 2023, marking a 13 per cent growth,
and positioning India as the 12th largest export market for Taiwan.
On the
import side, Taiwan imported goods worth $2.211 billion from India, a decrease
of 29.62 per cent from 2022.
India stands as the 25th largest
import source for Taiwan.