Industry leaders foresee a significant expansion in trade between India and Taiwan, with the potential to reach $25 billion through increased investment and technology collaboration. A high-level delegation from Taiwan, led by Peter Huang of the Taiwan External Trade Development Council, emphasized the friendly and hospitable environment India offers to Taiwanese industries.
Huang highlighted the strengthening commercial relationship between the two nations, noting that this marked the 15th business delegation from Taiwan to India. He underlined the immense trade and investment potential in electronics, auto components, machinery, food processing, and medical devices.
Recognizing India as a crucial partner under its ‘New Southbound Policy,’ Taiwan has signed migration agreements to facilitate the employment of Indian workers in Taiwanese industries. Vijay Kalantri, Chairman of MVIRDC World Trade Center Mumbai, described the India-Taiwan economic relation as reaching an inflection point. He highlighted the prestigious Padma Bhushan award conferred upon Young Liu, CEO of Foxconn, as a testament to the strengthening bond between the two nations.
In line with the growing partnership, the Taipei Economic and Cultural Centre (TECC) plans to establish a third office in India. The industry leaders stressed the need to enhance bilateral trade to $25 billion, a substantial increase from the current $8 billion, through investment collaboration and technology cooperation.
Both countries remain committed to fostering commercial partnerships in electronics, shipbuilding, and various other sectors of mutual interest.
