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Economy

India Keen To Sign Pact With Taiwan To Secure Microprocessor Supply

Home to the world’s largest semiconductor and microprocessor manufacturing sector, Taiwan is also a hub for electronics and precision tools. India wants a steady supply of these key items and would like more Taiwanese companies to shift operations to India.

By Kautilya / November 4, 2021

India is looking to quickly sign a preferential trade agreement with Taiwan with a special focus on securing a steady supply of microprocessors, electronic components and precision tools, senior officials said.

Apart from commitments to reduce import duties across key categories, the trade pact will include an investment chapter. This remains the government’s primary aim – to bring in more companies, capital and technical skills from the rich, manufacturing-driven economy.

After having developed cold feet in 2020 under strict opposition by China, India is now again keen to sign a deal with Taiwan by early next year, people aware of the plan told Moneycontrol. With a global chip shortage continuing, India has found more reason to sign the pact, the officials said.

Source: Money Control

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