New Southbound, Look East policies see India-Taiwan trade ties grow

January 25, 2019

TAIPEI - The annual India-Taiwan Trade Forum in Taipei City has brought together more than 150 business leaders and representatives to explore new and enhanced commercial tie-ups.

James C. F. Huang, Chairman of the event organiser, the Taiwan External Trade Development Council (TAITRA), said robust growth in bilateral trade and investment in recent years spotlighted the success of both Taiwan's New Southbound Policy and India's Look East Policy.
 
These initiatives were creating mutually beneficial synergies, Huang said,  and were expected to significantly boost Taiwan-India economic and people-to-people exchanges going forward.
 
Taiwan's Vice Minister of Economic Affairs, Wang Mei-hua, said agreements on bilateral investment and mutual recognition of authorised economic operators concluded last December in Taipei would provide greater protections for Taiwan firms eager to expand their presence in India.
 
India's Commerce Secretary, Anup Wadhawan, said India was becoming the destination of choice for Taiwan manufacturers.
 
India-Taiwan bilateral trade volume grew 10.85% to US$7.05 billion in 2018, with accumulated Taiwan investment in India totalling more than US$600 million at December 31. www.mofa.gov.tw (ATI).