Published on : Friday, January 25, 2019
Sridharan Madhusudhanan, director general of the India-Taipei Association, noted that the direct investment from Taiwan to India has increased tenfold in the last year.
Major Taiwanese companies, such as Foxconn, Delta Electronics Co., Wistron Corp. and Century Development Corporation (CDC), are reaping benefits from their investments in India, he said.
CDC, a Taiwan-based joint venture that develops industrial parks, is building a Taiwan Technology and Innovation Park in Bengaluru, he added.
India and Taiwan also updated a bilateral investment agreement in December 2018, and jointly established an investment facilitation office in New Delhi exclusively for Taiwanese businesses, called “Taiwan Plus,” the envoy noted.
“On people to people contacts, we see an increased flow of tourists on both sides. More Indian students are opting for Taiwan universities than before,” he said at the event organized by the India-Taipei Association.
Deputy Foreign Minister Hsu Szu-chien, who also attended the event, said trade and tourism between Taiwan and India increased last year.
Bilateral trade in the first 11 months of 2018 increased by 12.5 percent from the previous year, while the number of tourists visiting Taiwan from India during that period grew by about 11 percent from the same period in 2017, he said.
Hsu said the New Southbound Policy launched by President Tsai Ing-wen’s administration sees India as one of Taiwan’s most important partners.
Taiwan’s government is helping to develop the Taiwan Technology and Innovation Park in Bengaluru, he said, adding that the park is expected to be the first industrial cluster for Taiwanese businesses in India and could facilitate further investment in the country.