- Taiwanese companies are looking to expand beyond the Chinese market and India can be a major beneficiary
- There are 100 of Taiwanese companies that are operating in India
- The new cluster in Bengaluru will house 120 companies
- The cluster will be operational in 2020-21
Taiwanese firms are in the process of setting up an IT and electronics cluster in Bengaluru which will deepen their engagement in the domestic market, Taiwan’s Ambassador to India Chung-Kwang Tien said on Thursday.
India – A major beneficiary?
He also said with the ongoing US-China trade conflict, Taiwanese companies are looking to expand beyond the Chinese market and India can be a major beneficiary, reported PTI.
Tien further mentioned that with the recent trade war between US and China, there are people with second thoughts to put their business and investment to some other country. According to him, India definitely comes to the picture and he feels that is very important and very timely.
There are 100 of Taiwanese companies that are operating in India. The new information and communication technology and electronics cluster in Bengaluru will house 120 companies. The cluster will be operational in 2020-21, Tien added.
The annual bilateral trade between India and Taiwan jumped from USD 1.2 billion in 2000 to USD 7 billion last year. It is expected to rise to USD 20 billion in the next few years.