India Accelerates Talks With Taiwan on $7.5-Billion Chip Plant, Trade Deal: Report

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  • Officials in New Delhi and Taipei have met in recent weeks to discuss a deal that would bring a chip plant worth an estimated $7.5 billion to India to supply everything from 5G devices to electric cars, the people said
  • The report added that India has sought to lure high-technology investments as it seeks to become more self-reliant on chips, while Taiwan wants to strengthen its diplomatic presence around the globe
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Pic Source – Wallpaper Flare

As per a report by Bloomberg, India and Taiwan are in talks on an agreement that could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors by the end of the year, people familiar with the matter said. Officials in New Delhi and Taipei have met in recent weeks to discuss a deal that would bring a chip plant worth an estimated $7.5 billion to India to supply everything from 5G devices to electric cars, the people said.

The report added that the people said that officials in Taipei wanted quick progress on a bilateral investment agreement that would include tariff reductions on dozens of products used to make semiconductors. The people asked not to be identified to discuss negotiations that were currently ongoing. The Office of Trade Negotiations under Taiwan’s cabinet declined to comment, while a spokesperson for India’s trade ministry didn’t immediately respond to a text message.

While India and Taiwan are laying the groundwork to discuss a comprehensive trade deal covering goods, services and investments, officials in Taipei are seeking to revise the investment deal to show some early progress. The report added that India has sought to lure high-technology investments as it seeks to become more self-reliant on chips, while Taiwan wants to strengthen its diplomatic presence around the globe . Currently India imports almost all semiconductors to meet demand estimated to reach around $100 billion by 2025 from about $24 billion now.

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