Taiwanese companies to set up units in india

Chennai: A host of Taiwanese companies with interests in electronics, telecommunication and information technology are likely to set up manufacturing units in Chennai.

Mr Gopal Srinivasan, Chairman, Tamil Nadu State Council, Confederation of Indian Industry (CII), who was part of a 17-member Indian delegation that visited Taiwan last week said at a press conference here today that companies such as the power supply and display manufacturer, Delta Electronics; and mobile communication devices maker, Inventec are likely to set up manufacturing units in Chennai. ASUSTek Computers, TSMC and UMC are exploring business opportunities in India.

The Indian delegation discussed ways to improve trade between the two nations. India-Taiwan bilateral trade over the last seven months is estimated at about $2.46 billion (about Rs 9,840 crore), double of what it was in the same period last year.

Taiwan has, so far, invested about $700 million (about Rs 2,800 crore) in India. There is scope to improve this considering Taiwan has invested about $200 billion (Rs 8,00,000 crore) in China until now, Mr Srinivasan said. “I am confident this year alone will see about $300 million (about Rs 1,200 crore) of Taiwanese investment in India,” he said.

Key areas of investment that could benefit India and Taiwan include textiles and apparel, information communication technology, semiconductors, leather and footwear and industrial machinery. CII has tied up with trade and investment promotion agencies in Taiwan.