Addressing potential barriers to investment in India's semiconductor industry, Joseph Wu, Taiwan's Minister of Foreign Affairs has highlighted several critical challenges hindering the commitment of serious investments from chip companies in the island territory.
Wu highlighted the cubersome administrative structure in India, citing it as a significant obstacle to attracting investments in the semiconductor sector.
He emphasized the need for streamlined procedures and regulatory frameworks to facilitate smoother operations for potential investors.
Wu pointed out the scarcity of experienced engineers in India's semiconductor industry, stressing the importance of investing in education and training programs to bridge this skills gap and enhance the sector's competitiveness on a global scale.
Tariff barriers on electronics component imports were also identified as a key concern by Wu.
He urged Indian authorities to consider revising tariffs to make imports more accessible and cost-effective for semiconductor companies, thereby promoting foreign investment and technology transfer.
Inadequate infrastructure was another challenge highlighted by Wu, emphasizing the need for significant improvements in physical infrastructure to support the growth of the semiconductor industry in India.
Wu proposed that India should prioritize signing long-negotiated free trade agreements with Taiwan.
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