India-Taiwan bilateral trade to touch $6 billion in 2017

Posted by Daily Shipping Times on 29-11-2017        Tweet

NEW DELHI: India-Taiwan bilateral trade is set to touch $6 billion by end of 2017, Taiwan External Trade Development Council (TAITRA) Chairman James C F Huang said here.

Huang said the bilateral trade touched $5 billion in 2016.

"From January to September this year, it already registered a 35% growth. We will achieve $10 billion worth of trade within a couple of years," he said.

Huang said Taiwan is giving primacy to its relationship with India as part of the New South Policy. "We have increased our investment in many countries, especially in India, Malaysia, Indonesia and Singapore," he said.

According to a statistics, Taiwanese investment from these countries was $229.35 million for the first 10 months of the year, marking a 22.85% year-on-year increase, with 462 investment projects.

Commenting on India, he pointed out that the Country is extremely important for Taiwan as it has 1.3 billion people. "India and Taiwan have developed good relation over a period. Taiwan is ready to collaborate with India in enhancing electronic manufacturing capability," he said.

Recently Taiwanese electronic and computer association visited Bengaluru and explored opportunity to develop industrial parks. "We are actively considering developing industrial parks in India as part of Make In India initiatives. We are also ready to  start petrochemical park in India," he said.