If there is downgrading of economic ties between Taiwan & China as a punishment,which is likely, India must look to gain from it as Taiwanese companies look for alternatives. It’s not just semiconductors & electronics, but a whole lot of manufactured goods. Make for India & World
OTOH, It will make strategic sense for Taiwan to try and deepen economic relations with India, which benefits India in terms of technology and manufacturing.
Taiwanese businessman Keng Lee : We are businesses that are not conglomerates but have shaped the fortune of China and even the US. We can help turn India into an economic powerhouse newindianexpress.com
CMs of India’s top manufacturing states must look to visit Taiwan to attract investments in the manufacturing sector - Gujarat, Maharashtra, Tamil Nadu, Karnataka, Telangana & Andhra.
Was in an exhibition for tools, power tools & fasteners over the last 4 days in Noida. Majority of the products made in China branded by Indian companies.This must change over the next few years. No rocket science these products.We need total focus to become factory of the world
Forgot to add,there were western buyers looking for alternatives to China.They were left disappointed.
Global market for just power tools is $40 billion & growing.There are thousands of high consumption industrial products which we MUST manufacture in India,for ourselves & export
Global market for just power tools is $40 billion & growing.There are thousands of high consumption industrial products which we MUST manufacture in India,for ourselves & export
India imported $440 million worth power tools HSN 8467 FY22, $310 mn of it from China. China exported $3.9 billion of this HSN globally.
I can go on with several such products which can be made in India with the right policy support & achieve 30% of GDP from manufacturing
I can go on with several such products which can be made in India with the right policy support & achieve 30% of GDP from manufacturing
Another crucial industrial product - ball bearings HSN 8482. India imported $1.3 bn, half of it from China. China exported $6.7 bn of this HSN.
So as I’ve repeatedly said, don’t focus on just semiconductors & electronics. Manufacturing as a whole needs to be incentivised. We have to be in global supply chains & supermarket shelves.
Manufacturing as % of GDP is lower than Chacha’s and Aunty’s socialism time. Pandemic & China baring its fangs is an opportunity for India to boost manufacturing. Not just select areas, but everything - from supermarket shelves to industries across the world.
Going forward, we must strive to become a country that has millions of people employed in factories, developing various skills and expertise that come with it, rather than a country of millions of delivery, data entry people.
Consider this - in 2021, China exported $739mn worth of toothbrush & $422mn worth of manicure instruments like nail cutters. Corresponding figures for India $90mn & $5.6 mn.
Data: Worldbank
No rocket science. China got $1.16 bn in forex + 1000s of jobs from just these 2 items
Data: Worldbank
No rocket science. China got $1.16 bn in forex + 1000s of jobs from just these 2 items
Shaving razors - China $490 mn v India 86mn. Cannot neglect the vast spectrum of manufactured goods.50yrs ago there was no chips,but ppl brushed teeth,clipped nails, shaved, wore clothes, footwear. Chips might get replaced with something else in 50 years, but not daily use items.
Taiwan envoy pushes for an FTA with India. Taiwan is keen to share its expertise with India in critical sectors such as semiconductors, 5G, information security and artificial intelligence
thehindu.com
thehindu.com
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