On 11 June 2020, Bureau of Foreign Trade(BOFT), TAITRA, India Taipei Association(ITA) and Invest India jointly organized a webinar on electronics industry cooperation between Taiwan and India. As electronics manufacturing is one of the key sectors targeted in the “Make in India" policy, the Indian government recently announced a post COVID-19 economic revival plan that aims to strengthen development and attract foreign investments in electronics among other sectors. The webinar provided an opportunity for Taiwanese businesses to hear India’s recently launched supply chain and FDI incentives from India’s central and state governments.
Officials from India’s Department for Promotion of Industry and Internal Trade (DPIIT) of the Ministry of Commerce and Industry, and the Ministry of Electronics and Information Technology (MeitY) introduced three main schemes in place for India’s electronics industry. Representatives from Taiwan Electrical and Electronics Manufacturers’ Association (TEEMA), Delta Electronics and Foxconn were also invited to share their experiences of doing business in India.
BOFT’s Deputy Director General GJ Lee said that the electronics sectors of Taiwan and India could benefit each other if the two sides work together. Currently, the challenge for India’s electronics industry is to reduce its dependence on imported raw materials. By working together, a complete electronics supply chain that heads in the direction of localization and regionalization can be established. He added that such collaboration taking into consideration ways to align with Indian policies will help India become self-reliant.
Deputy Director General of ITA Rishikesh Swaminathan said that it is now a good time to reorganize the global supply chain. He stated that Taiwan is a close partner to India in its development, and he hopes that Taiwanese companies can make good use of India’s incentive policies.
DPIIT’s Joint Secretary Sumita Dawra said that Taiwanese businesses have invested mostly in electronics, vehicle components, shoemaking and the steel industries. She hoped that the new incentives can encourage more Taiwanese companies to invest in India. The CEO of Invest India Mr. Deepak Baglas pointed out that the Taiwan Plus has served Taiwanese businesses to good effect. As India is expected to become the world's largest manufacturing hub, he hoped Taiwanese companies will seize the opportunity to grow with India.
The “Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing", the “Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS)", and the “Modified Electronics Manufacturing Cluster Scheme(EMC2.0) " were the three incentive schemes introduced by Joint Secretary of MeitY, Mr. Sudhir Marwaha. These incentives aim to develop a comprehensive Indian electronics supply chain and industrial clusters. Following Mr. Marwaha’s overview, government officials from the states of Karnataka, Uttar Pradesh, Tamil Nadu and Andhra Pradesh, home to major Indian electronics clusters, talked about the business environments in their respective states and measures to facilitate investment in the electronics industry.
The webinar attracted around 150 business people to the event online. Most of them raised questions which Invest India and Taiwan Plus would follow up one-on-one.