India and Taiwan developed strong bilateral economic relations during the 21st century with the establishment of India Taipei Association (ITA) in Taipei and Taipei Economic and Cultural Center in New Delhi in 1995. 

India’s economic interaction with Taiwan has gained momentum in the past decade with several bilateral agreements in agriculture, investments, heritage railways, civil aviation, DTAA, industrial cooperation, SME cooperation, customs cooperation, among others.

    • India and Taiwan signed a landmark Bilateral Investment Agreement in 2018 to promote investment flow between the two sides. The Agreement seeks to ensure protection for Taiwanese investments in line with international standards, as well as the safety and rights of Taiwanese investors in India.

    • India’s latest 'Act East Policy' and Taiwan’s 'Southbound Policy' are strengthening economic cooperation between the two. 

    • In 2011, India and Taiwan signed a Double Taxation Avoidance Agreement (DTAA) and a Customs Cooperation Agreement to strengthen trade and investments.

    • The cumulative FDI inflows from Taiwan to India are worth $755.84 mn for April 2000 to June 2022.

    • The bilateral trade between India and Taiwan is on the rise - it has increased from $2 bn in 2006 to $5.7 bn in 2020, registering a 185% growth.

    • The bilateral trade between India and Taiwan is on the rise – it has increased from $2bn in 2006 to $5.7 bn in 2021, registering a growth of 185%.

    • The first ever Taiwan Film Festival was hosted in India in 2018 in an effort to promote Taiwanese culture in India. The Film Festival was followed by a delegation of 25 youth ambassadors under Taiwan’ s International Youth Ambassadors Exchange Programme to boost ties among the youth of India and Taiwan.

    • To strengthen the cultural ties, Taiwan’s Ministry of Culture and the National Gandhi Museum in India organized a week-long exhibition on Mahatma Gandhi’s life and teachings in Taipei to mark his 150th birth anniversary in October 2018.

    • In 2004, Taiwan began offering Indian students the Taiwan Scholarship and National Huayu Enrichment Scholarship to study Mandarin.

    • India's e-Tourist Visa facility was granted to Taiwanese citizens. Source

  • Automobile

    Automobile

    • 4th

      Largest car manufacturer

    • 4th

      largest vehicle market

    • $118 bn

      Current value of the Indian automobile industry

      • Largest two-wheeler and three-wheeler manufacturer
      • 2nd largest bus manufacturer and 3rd largest heavy trucks manufacturer
      • Provides direct and indirect employment to over 35 mn people
      • The India passenger car market values at $ 32.70 bn in 2021, and it is expected to reach a value of $ 54.84 bn by 2027 while registering a CAGR of over 9%.
    Visit Sector 3Investible Projects
  • Chemicals

    Chemicals

    • 3rd

      largest consumer of polymers in the world

    • $300 bn

      Value of Indian chemical industry by 2025

      • 3rd largest consumer of polymers in the world
      • 4th largest producer of agrochemicals in the world
      • Supplies 16% of the global dyestuff and dye intermediates
      • India is set to emerge as fourth largest chemical producer in the world
    Visit Sector 28Investible Projects
  • Capital Goods

    Capital Goods

    • 12%

      contribution to overall manufacturing in India

    • 5 million 

      direct employment in 2025

    • 40%

      T&D equipment demand

      • Indian generation and T&D equipment market to reach $ 100 bn by 2025
      • The T&D equipment segment is targeted to reach a size of US $75 bn by 2025
      • 100% FDI allowed under automatic route
      • The industry is divided into 10 sub-sectors where electrical equipment is the largest sub-sector
      • Direct and indirect employment expected to reach 5 mn and 25 mn, respectively by 2025
    Visit Sector 10Investible Projects
  • Electric Vehicles

    Electric Vehicles

    • 40%

      Global engineering and R&D spent on automobile sector in India

    • $1.4 bn

      Fund allocation for implementation of FAME-II Scheme

    • 750,000+

      Total EV sales in India so far

      • National Electric Mobility Mission Plan 2020 (NEMMP) launched for faster adoption of electric vehicles and their manufacturing in India
      • Up to 100% flexibility on the funding of the cost for charging infrastructure, depending upon project proposal.
      • Target to achieve 30% EV of the total vehicles on road by 2030
    Visit Sector 3Investible Projects
  • Electronic Systems

    Electronic Systems

    • 2nd

      largest telephone market 

    • 3rd

      largest scientific and technical manpower

    • $ 220 bn

      ESDM sector in India by 2025

      • One of the top 3 global economies in terms of the number of digital consumers
      • Projected CAGR of the Sector during 2020-25 is 16.6%
      • Estimated to reach over 900 million internet subscribers by 2025
      • Consumer electronics and appliances industry expected to become 5th largest by 2025
      • 100% FDI through Automatic Route
    Visit Sector 11Investible Projects
  • Textiles & Garments

    Textiles & Garments

    • 6th

      Largest exporter of textiles and apparel 

    • 95%

      of the world's hand-woven fabrics are made in India 

    • $300 bn

      Indian textile exports by 2024-25

      • Largest producer of cotton and jute
      • 2nd largest producer of polyester, silk and fibre
      • Contributes 27% to the country's foreign exchange inflow
      • Employs over 52 mn people directly and 69 mn people indirectly, the 2nd largest employer in India
    Visit Sector 4Investible Projects

Recent Investments

Foxconn

Foxconn plans investment in semiconductor, consumer electronics in Maharashtra

Foxconn, the largest electronics manufacturer in the world held a meeting with the ministerial delegation from Maharashtra and discussed the advanced investment plans.

Taiwanese electronics giant Foxconn

Taiwanese electronics giant Foxconn looks at manufacturing EVs in India

Taiwanese electronics giant Foxconn is looking at making electric vehicles in India, part of a larger diversification plan to expand its Asian manufacturing supply chain beyond China, according to people aware of developments at the contract phone maker for Apple.

Vedanta signs pact with Foxconn to manufacture semiconductors in India

Vedanta signs pact with Foxconn to manufacture semiconductors in India

Vedanta signs pact with Foxconn to manufacture semiconductors in India

Market access to about two billion people, including over .3 billion in India, stable industrial and political environment, availability of skilled work force in abundance and a shared cultural relationship have made India an attractive investment destination for Taiwan, said Ben Wang, director-general of Taipei Economic and Cultural Centre in Chennai.

Taiwan views India as an attractive investment destination

Market access to about two billion people, including over .3 billion in India, stable industrial and political environment, availability of skilled work force in abundance and a shared cultural relationship have made India an attractive investment destination for Taiwan, said Ben Wang, director-general of Taipei Economic and Cultural Centre in Chennai.

India accelerates talks with Taiwan on $7.5-billion chip plant, trade deal. 

India accelerates talks with Taiwan on $7.5-billion chip plant, trade deal. 

India accelerates talks with Taiwan on $7.5-billion chip plant, trade deal. 

Foxconn's India arm plans IPO to raise INR 5,000 crore

Foxconn's India arm plans IPO to raise INR 5,000 crore

Foxconn's India arm plans IPO to raise INR 5,000 crore

Pegatron

Pegatron registers first India subsidiary in Chennai

Pegatron, Apple's second-largest contract manufacturer, has registered a subsidiary in India, to expand the manufacturing capacity of iPhones in the country.

Foxconn in India

Foxconn to invest $1 bn in Tamil Nadu Plant

Foxconn Technology Group plans to expand their Sriperambudur Plant in Tamil Nadu. The investment will take place over 3 years and is expected to add 6,000 jobs at the plant.

Wistron in India

Wistron plans to invest $165 mn for India plant expansion

Taiwanese Original Equipment Manufacturer (OEM), Wistron Corp. plans to invest $165 mn to increase production capacity of its facility in Narasapura near Bengaluru.

Maxxis in India

Maxxis bets big on India as it eyes to enter top 5 global tyre maker list by 2025

Taiwanese tyre major, Maxxis Group plans to invest $400Mn on its first manufacturing plant at Sanand in Gujarat, where it is working to hike output to 60,000 units of two-wheeler tyres per day from the current 20,000 units a day, as part of the project's Phase I expansion.

Taiwan Plus

Taiwan Plus is the one-stop-shop for exploring and materializing your India entry plans. Set up by Invest India, the National Investment Promotion and Facilitation Agency and Taiwan External Trade Development Council (TAITRA), under the aegis of Government of India and Taiwan, the Desk will promote, facilitate and retain Taiwanese investments in India.

Working closely with the federal and state government agencies and industrial authorities in India, Taiwan Plus brings to you a seamless experience in kick-starting your India business.

Key Functions

  • An entire spectrum of investment promotion - research, outreach, promotion, facilitation, and aftercare
  • Initiating, attracting, facilitating, fast-tracking and handholding Taiwanese investments across sectors
  • Providing information on investment opportunities across sectors, in specific projects
  • Extending holistic support to the small and medium enterprises and entrepreneurs from Taiwan with an interest in investing in India

Team Advantages

  • Opportunity assessment

  • Policy and incentive advisory

  • Market entry strategy

  • Location assessment

  • JV and strategic partner research

  • Approvals and compliance advisory

  • Issue redressal support

  • Expansion advisory

  • Start-up (Entrepreneurship) support

About Us

Invest India

The one stop-shop to ensure your success in India

Our Prestigious Awards

We are the most awarded IPA in the world

  • The World's Most Innovative Investment Promotion Agency Award 2021 awarded by OCO Global

  • United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2020 for best practices in COVID response

  • Best Investment Project Award five years in a row - 2016 to 2020 at the Annual Investment Meeting (AIM) organized by the Ministry of Economy, UAE.

  • Great Place to Work Certification by GPTW Survey 2019

  • The UNCTAD Award 2018 for promoting investment in sustainable development

  • Great Place to Work Certification by GPTW Survey 2018

  • Investment Award 2016 from the Indian Ocean Rim Association (IORA)

  • United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2016 for excellence in partnering for investment promotion