Taiwan, India move closer to economic pact

Francis Kuo-hsin Liang, ROC deputy minister of economic affairs, points out Sept. 10 that India is Taiwan’s 16th largest trading partner.

A joint feasibility study by Taiwan and Indian think tanks on an economic cooperation agreement between the two countries is nearing completion, according to Saurabh Chandra, secretary of India’s Department of Industrial Policy and Promotion, Sept. 10.

Chandra made the comments following a seminar on investment opportunities in India held in Taipei City, organized by the India-Taipei Association.

Following completion of the study, the two sides will adopt follow-up measures based on its conclusions, he said.

ROC Deputy Minister of Economic Affairs Francis Kuo-hsin Liang noted at the seminar that bilateral Taiwan-India trade reached US$7.6 billion last year, making India Taiwan’s 16th largest trading partner.

According to Chandra, India’s greatest potential lies in its manufacturing sector and expanding market. The two sides could also engage in exchanges in science and technology, he added.

Taiwan’s Chung-hua Institution for Economic Research and the Indian Council for Research on International Economic Relations were commissioned by their respective governments in 2011 to carry out the feasibility study.

Rajat Kathuria, head of the ICRIER, said in July that he planned to visit Taiwan in October for related research, with official results of the study expected to be announced when the Taiwan research team visits New Delhi in February.

Taiwan Today