Taiwan firms are shifting supply chains to India from China, as Taipei and New Delhi strengthen economic ties, the head of the island's key trade body told Reuters, as global trade tension rises among major economies.

New Delhi: Taiwanese firms are relocating their supply chains from China to India as Taipei and New Delhi strengthen economic ties, according to the head of Taiwan's main trade body, reported Reuters. Rising global trade tensions among major economies have prompted this shift.

Taiwanese companies are increasingly relocating their supply chains from China to India amid strengthening economic ties between Taipei and New Delhi, according to the chairman of Taiwan's key trade body.

The International Monetary Fund on Tuesday upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by stickier-than-expected inflation for services,

The global economy is set for modest growth over the next two years amid cooling activity in the U.S., a bottoming-out in Europe and stronger consumption and exports for China, but risks to the path abound,

The IMF held global growth expectations for 2024 steady in a report Tuesday even as it cut forecasts for the United States and Japan, while warning of inflation risks and