Vedanta-Foxconn JV may just be the beginning of India-Taiwan tech partnership
At a time when global shortage of semi conductors has hit production of electronic items including smartphones and vehicles, the newly inked joint venture between the Anil Agarwal-led Vedanta and Hon Hai Technology Group – better known as Foxconn Technology Group -- to manufacture semiconductors in India naturally had grabbed headlines. While this is expected to give a push to Prime Minister Narendra Modi’s production-linked incentive (PLI) plan, it is also seen by many as a move that would further expand collaboration between India and Taiwan, which is a key player in the global supply chain network.
The joint venture also gives shape to Taiwanese President Tsai Ing-wen’s “New Southbound Policy” and Modi’s Act East Policy.
Also read: Taiwan electronics giant Foxconn forms JV to make chips in India
"India is quietly but aggressively deepening its economic ties with Taiwan, there could be many more such investment announcements in the offing," an insider told India Narrative.
Though New Delhi and Taipei have no diplomatic ties at present, India is one the 18 countries under its New Southbound Policy” that Taiwan is looking to expand its ties with.
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