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India-Taiwan ties are quietly cementing amid friction with China
TIWN
India-Taiwan ties are quietly cementing amid friction with China
PHOTO : TIWN

New Delhi Aug 10 (TIWN): Taiwan is quietly increasing its investments in India from the current $2.3 billion. Recently, a Taiwanese delegation met Maharashtra officials to discuss ways to boost economic and technological activities between the two.

"Very fruitful discussion with Hon MP U. Patil, Hon MP Shevale and Hon MP H Patil. Looking forward to closer ties between Taiwan and India in general as well Taiwan and Maharashtra in particular," Taipei Economic and Cultural Center (TECC) that serves as the de-facto embassy in India, said in a tweet.  Last month, the Telangana government proposed setting up a Taiwan specific industrial cluster in the state to attract more investments from Taiwan. 

Several Taiwanese contract manufacturers including Foxconn, Wistron Corp and Pegatron Corp have already set up their manufacturing facilities in India. According to a Reuters report, these companies have drawn up plans to plough in $900 million in India over the next five years to tap into the government's production-linked incentive plan. 

Taiwan is also a key player in the global supply chains network.  Though New Delhi and Taipei have no diplomatic ties at present, India is one the 18 countries under its New Southbound Policy" that Taiwan is expecting to expand its bilateral and economic ties with.  "There is a need to build greater economic co-operation and trust between India and Taiwan. The two countries need to leverage each other's strengths," Gopal Krishna Agarwal, BJP's spokesperson on economic affairs, told India Narrative.  "It will be beneficial to both countries (India and Taiwan) to increase mutual cooperation economically and even diplomatically," Agarwal said, adding that India's foreign and economic policies need to be driven by domestic interests.

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