A Taiwanese delegation of 89 government officials and business representatives are scheduled to leave for India Feb. 20 to discuss business opportunities between the two countries as part of government efforts to increase bilateral investment, officials said Thursday (Feb. 17).
The delegation is set to visit New Delhi, Mumbai and Ahmedabad during its five-day trip to hold business meetings with corporations there such as India's oldest conglomerate, the Tata Group, according to a statement from the Council for Economic Planning and Development (CEPD).
The meetings will cover six major sectors: green power, high technology, biomedicine, intelligent automobiles, land development and digital content, said the minister of the council, Christina Liu, at a press conference.
"The Indian market has been growing very fast in recent years and we have found that some Taiwanese businesses are highly complementary to Indian corporations," Liu said.
For the past decade, India has recorded the world's second-highest economic growth rate of 7.4% and the country is forecast to replace China as the fastest growing economy during the 2013-2015 period, according to the council.
However, the total volume of trade between Taiwan and India amounted to only US$6.47 billion in 2010, accounting for just 1.% of Taiwan's total foreign trade for that year.
Liu said the delegation will study more types of business opportunity during the trip such as forming partnerships in a bid to increase the investment flow between the two sides.
Meanwhile, a majority of Indian corporations are very interested in investing in Taiwanese industries such as electronics and automobiles, said Jaspal Singh Bindra, group executive director and CEO of Standard Chartered Bank in Asia, which is co-organizing the India meetings.
He said that as India is looking for a balance between its domestic and foreign demand to meet the trend of globalization, Taiwan will become a business hub for India as the subcontinent tries to gain a toehold in the emerging China market.
Source : Wantchinatimes.com