May 8, 2024
1 min read

India-Taiwan Economic Partnership Soars

Of the $8 billion bilateral trade, Taiwan exports $6 billion and imports hardly $2 billion from India….reports Asian Lite News

As India-Taiwan economic partnership grows significantly in recent years, the trade between the two countries may reach $25 billion via investment and technology sharing, industry leaders have said.

Peter Huang, specialist of South Asia section (Market Development Department), Taiwan External Trade Development Council, who led a high-level delegation here, said that India is a friendly and hospitable country for Taiwanese industry.

“Our commercial relation is growing from strength to strength and this is our 15th business delegation to India,” Huang said.

“India is still an untapped market for Taiwanese firms and there is huge trade and investment potential in India, especially in electronics, auto-components, machineries, food processing, medical devices and other sectors,” he emphasised.

Taiwan has considered India as a critical partner under its ‘New Southbound Policy’ and both countries have also signed migration agreements to allow Indian workers to be employed in Taiwanese industries.

Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai, said that India-Taiwan economic relation is at an inflection point.

“For the first time, India conferred Padma Bhushan award to CEO of Foxconn, Young Liu, which is testimony to the strengthening of our bond,” he mentioned.

The Taipei Economic and Cultural Centre (TECC) is also planning to set up a third office in India.

“Both the countries should grow bilateral trade to $25 billion, from the current level of $8 billion through partnership in investment and technology cooperation,” industry leaders noted.

Of the $8 billion bilateral trade, Taiwan exports $6 billion and imports hardly $2 billion from India.

“In future, we are committed to facilitating our commercial partnerships in electronics, shipbuilding, and other sectors of mutual interests,” Kalantri said.

ALSO READ: Xi camouflages his Master Plan for crushing Taiwan’s freedom

Previous Story

Pakistan’s New Cyber Crime Unit Chokes Freedom Of Speech And Press

Next Story

Nominations for Phase 7 of polls begins in Punjab, Himachal

Latest from -Top News

Quantum Leap Secures India’s Edge

The Minister said India has entered a new quantum era, set to transform future warfare….reports Asian Lite News India has taken a major leap in defence and cyber security by successfully demonstrating

India’s Growth Defies West Asia Tensions

The deepening crisis in West Asia, particularly between Israel and Iran, has had little to no visible impact on India’s economic trajectory or its export performance….reports Asian Lite News The limited trade

FM Sitharaman Embarks on Three-Nation Tour

She is leading the Indian delegation from the Department of Economic Affairs under the Ministry of Finance….reports Asian Lite News Union Finance Minister Nirmala Sitharaman commenced her official visit to Spain, Portugal,

Araghchi: Hold US, Israel Accountable

The Iranian foreign minister emphasised that the UNSC should hold the “aggressors” accountable and act to prevent the recurrence of such “crimes.”…reports Asian Lite News Iranian Foreign Minister Seyed Abbas Araghchi urged
Go toTop

Don't Miss

Cyber security collaboration significant in ties with India: Taiwan

“The world is changing in the AI age, so safe

India unveils squad for Asia Cup showdown

The 2023 Asia Cup will be co-hosted by Pakistan and