India has been very keen on having a manufacturing facility for Taiwan Semiconductor Manufacturing Corporation (TSMC), the world’s largest chipmaker whose clients included Apple.
The Taiwanese foreign minister said Taipei has conveyed to New Delhi that the time has come for launching the FTA negotiations. The two sides have already conducted studies for the FTA and held preliminary discussions for the pact.
The FTA will be a “big encouragement” for our companies to set up manufacturing bases in India as the trade pact would provide relief on tariffs on various aspects including on bringing various equipment and related materials to the country, Wu said.
“Our trade relations have been picking up steam. The Taiwanese investors are hungry for India and the semiconductor cooperation between Taiwan and India is being blessed by the top leadership of the two countries,” he said.
The foreign minister said Taipei will continue to encourage Taiwanese businessmen, who no longer find the Chinese market profitable, to invest in India.