Taiwan has expressed its willingness to assist India in reducing its trade deficit with China by enhancing economic cooperation. Taiwanese Deputy National Security Adviser Hsu Szu-Chien emphasized that a free trade pact could encourage Taiwanese investment in India’s high-tech sectors, particularly in semiconductors and electronics. This collaboration could help India lower its dependence on Chinese imports and boost bilateral trade relations between India and Taiwan.
Taiwan has extended an offer to support India in reducing its trade deficit with China by fostering stronger economic cooperation. Speaking on the matter, Taiwanese Deputy National Security Adviser Hsu Szu-Chien suggested that a free trade pact between India and Taiwan could significantly reduce India’s reliance on Chinese imports, particularly in the electronics and semiconductor sectors.
Taiwan, a global leader in semiconductor and high-tech manufacturing, aims to encourage Taiwanese businesses to invest in India’s growing technology sector. Hsu emphasized that easing trade barriers and lowering tariffs would attract more Taiwanese firms to establish operations in India, boosting local production and reducing dependence on Chinese suppliers.
Taiwanese companies such as Taiwan Semiconductor Manufacturing Company (TSMC) and other high-tech firms have already shown interest in expanding their presence in India. Hsu reiterated that strategic partnerships and trade agreements would create a win-win situation for both countries by strengthening India’s supply chain and expanding Taiwan’s global market presence.
India’s trade deficit with China has been a longstanding concern, with heavy reliance on Chinese imports, especially in the electronics sector. The Indian government has been pushing for diversification by inviting foreign investments and bolstering domestic manufacturing. Taiwan’s expertise in semiconductors, coupled with India’s skilled workforce and growing market, presents an opportunity for both nations to collaborate on reducing the deficit while boosting economic growth.
As India continues its efforts to enhance self-reliance in high-tech manufacturing, discussions on trade partnerships with Taiwan are expected to gain momentum. The potential agreement could pave the way for new investments and economic policies aimed at making India a key player in the global semiconductor and electronics industry.
