As a trade war rages between the United States and China, Taiwanese businesses should consider India as a destination for investment, a Taiwanese trade official said during a news conference in New Delhi on Sept. 20.WebSite(Open In New Window)
Over the next 20 or 30 years, Taiwanese businesses should focus on setting up shop in India, TAITRA Vice Chairman Liu Shih-chung and Taiwan’s representative in India Tien Chung-kwang told Indian media, CNA reported.
Tien estimated the likely Taiwanese investment in India over the coming years at more than US$10 billion, according to CNA.
Rising wages and stricter environmental regulations in China, in addition to U.S. tariffs on Chinese products, were factors which moved Taiwanese investors to look for new destinations, Liu said, naming Southeast Asia and India as their favorite choices.
The TAITRA official also explained the Taiwanese government’s New Southbound Policy, which since 2016 has aimed at expanding ties with Southeast and South Asian nations, including India, in a wide range of fields, from trade and investment to tourism and education.
Electric vehicles, artificial intelligence, and recyclable energy sources were the main areas Taiwanese investors would be looking at in India, Liu said.
Source: Taiwan News
Wayne Lin (firstname.lastname@example.org)