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

Modi Eyes Trade Deals in Maldives

PM Modi will arrive in Maldives on July 25 which would be the second and final leg of his two-nation visit, following the visit to the United Kingdom, starting Wednesday….reports Asian Lite

Russia Strikes Back at EU

The Council of the European Union approved the 17th and 18th packages of sanctions on Russia on May 20 and July 18…reports Asian Lite News Russia has significantly expanded its entry ban

PM Modi Due in UK

PM Modi’s visit to the UK, scheduled for July 23–24, comes at the invitation of British counterpart Keir Starmer and will be his fourth trip to the country….reports Asian Lite News Prime

Victory First, Then Peace?

Katz stressed the importance of meeting the war’s goals as set, primarily the return of all Israeli hostages and the surrender of Hamas….reports Asian Lite News Israeli Defence Minister Israel Katz said

US Brings Up Old Claim, India Pushes Back

US Raises Trump’s India-Pakistan Claim at UN; India Reaffirms Bilateral Stand…reports Asian Lite News The US brought President Trump’s May claim of resolving the India-Pakistan conflict to the Security Council, but New
Go toTop

Don't Miss

Kerala to host Vizhinjam Conclave 2025 

The summit will spotlight the untapped potential of Vizhinjam International

India and Gulf countries move into strategic orbit

Modi has made a point to visit the Gulf countries