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Taiwan Keen To โ€œDeeply Engageโ€ With India, Supports โ€œMake In Indiaโ€ Policy

Taiwan

Visiting Taiwanโ€™s Deputy Economic Minister Chen Chern-chyi has expressed his countryโ€™s intent to โ€œdeeply engageโ€ with India and support the โ€œMake in Indiaโ€ policy. The minister also mentioned a โ€œpossible Free Trade Agreementโ€ with India.

New Delhi:  Visiting Taiwanโ€™s Deputy Economic Minister Chen Chern-chyi has expressed his countryโ€™s intent to โ€œdeeply engageโ€ with India and support the โ€œMake in Indiaโ€ policy. The minister also mentioned a โ€œpossible Free Trade Agreementโ€ with India.

โ€œIndia can be the best production place for us. Indiaโ€™s policy of Make-in-India is fully in line with my governmentโ€™s policy โ€ฆ Our companies will rely on horizontal collaborations (with Indian companies),โ€ said minister Chen on Thursday. The minister Chen is currently on an India visit participated in the 2022 India-Taiwan Industrial Collaboration Summit jointly held by Federation of Indian Chambers of Commerce & Industry (FICCI) and Taiwanโ€™s Chinese National Federation of Industries (CNFI).

The annual summit is hosted alternately by the two countries. The Taiwan minister also highlighted his governmentโ€™s โ€œNew Southbound Policyโ€ with emphasis on India.

โ€œWe work with local partners โ€ฆWe are heavily dependent on the Indian government to help us invest here,โ€ he said, adding that India will be given priority in Taiwanโ€™s โ€˜New Southbound Policyโ€™.

India Taiwan Relations have gathered unprecedented momentum in recent years. Taipei has also tried to reach out to New Delhi. In 2020, India and Taiwan commemorated the Silver Jubilee (25th diplomatic anniversary) of the establishment of the India-Taipei Association(ITA) and Taipei Economic and Cultural Center(TECC).

There is scope for convergence between the Indian governmentโ€™s Act East policy, which advocates closer economic, strategic, and diplomatic engagement with countries in the Indo-Pacific, and Taiwanโ€™s New Southbound Policy, which seeks to enhance cooperation and exchange between Taiwan and 18 countries in Southeast Asia, South Asia, and Australasia (Australia, New Zealand and some neighboring islands in the Pacific Ocean).

Both policies aim to increase regional influence and gain political and economic benefits from their partners in the region.

Also Read:  US Treasury Secy To Visit New Delhi To Participate In US-India Economic Meet

Earlier, Indiaโ€™s representative to Taiwan, Gaurangalal Das said, โ€œgreat opportunities ahead for India-Taiwanโ€ in the business domain at FICCIโ€™s India -Taiwan Industrial Collaboration Summit.

Meanwhile, Taiwanโ€™s Foreign Ministry has decided to host Diwali Celebrations later today. Foreign Minister Joseph Wu and Legislator Madam YC Wu, President of the Taiwan-India Friendly Association of Taiwan Parliament will be present at the celebrations.

In addition to the summit, Chen also attended a CEO roundtable forum which saw participation from Taiwanโ€™s government and industrial groups. Among the topics covered were electronics manufacturing, electric vehicles, batteries, and electronics/information and communications technology development, according to Taiwanโ€™s representative office as cited by Focus Taiwan.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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