We continue the study of (tw, ω)-bounded graph classes, that is, hereditary graph classes in which the treewidth can only be large due to the presence of a large clique, with the goal of understanding the extent to which this property has useful algorithmic implications for the Maximum Independent Set and related problems.In the previous paper of the series [Dallard, Milanič, and Štorgel, Treewidth versus clique number. II. Tree-independence number], we introduced the tree-independence number, a minmax graph invariant related to tree decompositions. Bounded tree-independence number implies both (tw, ω)-boundedness and the existence of a polynomial-time algorithm for the Maximum Weight Independent Packing problem, provided that the input graph is given together with a tree decomposition with bounded independence number. In particular, this implies polynomial-time solvability of the Maximum Weight Independent Set problem.In this paper, we consider six graph containment relations-the subgraph, topological minor, and minor relations, as well as their induced variants-and for each of them characterize the graphs H for which any graph excluding H with respect to the relation admits a tree decomposition with bounded independence number. The induced minor relation is of particular interest: we show that excluding either a K 5 minus an edge or the 4-wheel implies the existence of a tree decomposition in which every bag is a clique plus at most 3 vertices, while excluding a complete bipartite graph K 2,q implies the existence of a tree decomposition with independence number at most 2(q − 1).These results are obtained using a variety of tools, including ℓ-refined tree decompositions, SPQR trees, and potential maximal cliques, and actually show that in the bounded cases identified in this work, one can also compute tree decompositions with bounded independence number efficiently. Applying the algorithmic framework provided by the previous paper in the series leads to polynomial-time algorithms for the Maximum Weight Independent Set problem in an infinite family of graph classes, each of which properly contains the class of chordal graphs. In particular, these results apply to the class of 1-perfectly orientable graphs, answering a question of Beisegel, Chudnovsky, Gurvich, Milanič, and Servatius from 2019.