近年來，全球供應鏈重組、地緣政治風險升高及印度基礎建設需求擴大，使印度逐漸成為國際企業與金融機構關注之重要市場。對台資銀行而言，印度不僅代表海外業務成長機會，亦與台商供應鏈移轉及跨境金融服務需求密切相關。然而，印度金融市場具有本土銀行主導、監理制度差異、資訊不對稱及匯率風險等特性，台資銀行進入印度企業金融市場時，須審慎評估其進入模式與風險控管機制。
本研究以「台資銀行進入印度聯合授信貸款市場之策略分析」為主題，結合聯合授信貸款理論、銀行國際化理論、新興市場跨境融資風險觀點與策略分析工具，建構「市場—結構—銀行」三層次分析架構。研究方法上，透過文獻回顧、次級資料分析、Loan Connector 聯貸資料分析及外資銀行個案研究，探討印度聯貸市場特徵，並運用 PEST、SWOT 與 TOWS 分析，推導台資銀行之進入策略。
研究結果顯示，印度聯貸市場融資需求主要集中於基礎建設、能源、金融服務與製造業等資本密集產業，且本土銀行掌握重要客戶關係與在地資訊，後進外資銀行初期較難取得主導地位。此外，印度聯貸市場具有銀行團結構精簡化、長天期融資及美元融資等特徵，使外資銀行須面對信用、匯率、期限與法規風險。
基於上述發現，本研究認為，台資銀行進入印度聯貸市場應採取「分階段、合作式、產業聚焦」之策略。短期宜以參貸角色累積經驗；中期可聚焦基礎建設、能源、金融服務、製造業及台商供應鏈相關案件；長期則可在累積在地資訊、產業知識與風險管理能力後，建立其於印度聯貸市場之利基定位。

In recent years, global supply chain restructuring, rising geopolitical risks, and India’s growing infrastructure demand have made India an important market for international corporations and financial institutions. For Taiwanese banks, India represents not only an opportunity for overseas business growth, but also a market closely linked to Taiwanese firms’ supply chain relocation and demand for cross-border financial services. However, India’s financial market is characterized by domestic bank dominance, regulatory differences, information asymmetry, and foreign exchange risk. Taiwanese banks must therefore carefully assess their entry modes and risk management mechanisms when entering India’s corporate banking market.
This study examines the strategies for Taiwanese banks to enter India’s syndicated loan market. By integrating theories of syndicated lending and bank internationalization, perspectives on cross-border financing risks in emerging markets, and strategic analysis tools, this study develops a three-level analytical framework encompassing the market, structural, and bank levels. Using a literature review, secondary data analysis, Loan Connector syndicated loan data, and foreign bank case studies, this study explores the characteristics of India’s syndicated loan market and applies PEST, SWOT, and TOWS analyses to derive entry strategies for Taiwanese banks.
The findings show that financing demand in India’s syndicated loan market is concentrated in capital-intensive sectors such as infrastructure, energy, financial services, and manufacturing. Domestic banks retain strong local client relationships and market information, making it difficult for late-entering foreign banks to obtain leading roles at the initial stage. In addition, streamlined syndicate structures, long-term financing, and U.S. dollar financing expose foreign banks to credit, foreign exchange, maturity, and regulatory risks.
Based on these findings, this study suggests that Taiwanese banks adopt a phased, cooperative, and industry-focused strategy to gradually build a niche position in India’s syndicated loan market.

中文部分：
黃嘉莉，2022，〈台灣銀行業在東南亞市場之經營：以柬埔寨市場為例〉，國立臺北大學國際財務金融碩士在職專班碩士論文。
吳怡葳，2022，〈台資商業銀行佈局東協市場經營模式與策略：以 C 銀行為例〉，國立臺灣大學進修推廣學院事業經營碩士在職學位學程碩士論文。
吳建廷，2018，〈外資銀行業進入印度市場之研究〉，東吳大學國際經營與貿易學系碩士在職專班碩士論文。
盧樹弘，2023，〈台資銀行國際佈局策略之研究〉，國立政治大學經營管理碩士學程碩士論文。
游千慧，2017，〈東協國家因應氣候變遷之調適措施對我國新南向政策之影響分析〉，立法院法制局議題研析，編號 R00226。
金融監督管理委員會銀行局，2025，〈同意台北富邦商業銀行申請於印度設立古吉拉特邦金融特區分行〉，金融監督管理委員會銀行局新聞稿。
國家發展委員會，2024，〈印度金融與新南向政策相關出國報告〉，台北：國家發展委員會。
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資料庫與研究資料來源
1. Loan Connector / Refinitiv. (2026). India Syndicated Loan Market Raw Data. 資料期間：1989 年至 2026 年 4 月；樣本包含 6,660 筆 Tranche 資料及 5,078 筆聯貸案件。資料由本研究整理。
2. Loan Connector / Refinitiv. (2006–2025). India Loans Bookrunner League Tables. 資料期間：2006年1月至 2025 年 12 月Annual league table reports ；樣本包含資料期間各年度聯貸市場排名。資料由本研究整理。