Bilateral Trade To Rise By 15% In 2018 Between India and Taiwan
NewsPatrolling.com :
The bilateral
trade between India and Taiwan, which
was around USD 5 billion in 2016, rose to USD 6.3 billion in 2017 is expected
to rise by 10 to 15 per cent this year.
To boost the
relations between the two countries, Taiwan External Trade
Development Council (TAITRA), Taiwan’s foremost trade promotion organization is
organizing first ever ‘TaiwanExpo’ at PragatiMaidan in New Delhi, India.
The TaiwanExpo
will showcase Taiwan’s latest technologies, eco-friendly products and
industrial prowess through eight themed pavilions along with eight specialized
industry areas dedicated to diverse industry verticals including green
products, smart cities, EV Alliance, healthcare, tourism, food processing
machinery, textiles, automobiles, sports, agriculture, and ICT products.
Although the
government promoted a Southbound Policy in the 1990s, the Tsai government is
today pushing a new direction and integrating this policy into policies
relating to South Asia.
Mr. James
Huang, Chairman, TAITRA,says, We are holding a Taiwan Expo in New Delhi for the first
time. India is a rapidly
growing economy with a population of 1.3 billion people and its economic growth
is even faster than China and ASEAN
members. The market is worth exploring further," Huang said.
By the end of
2018, Taiwanese companies will be investing in India to manufacture
things like LCD screens and personal computers.
Besides IT,
petrochemicals and food processing are the key areas
in which India and Taiwan can cooperate
with each other.
The Modi government's 'Digital India'
initiative is a huge opportunity for Taiwanese companies. We have a strong
desire to talk to the Indian government on a possible
Free Trade Agreement (FTA) between the two countries for a close economic
partnership. We are
considering developing industrial parks in India as part of 'Make
in India initiative, Mr.Huang further added.
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