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Taiwan, India to partner on industrial development

Taiwan, India to partner on industrial development

Representatives from Taiwan and India agreed during economic talks earlier this week that both sides should cooperate on industrial development, under the right conditions.

After signing two Memorandums of Understanding (MOUs) on bilateral cooperation related to small and medium-sized enterprises and information and communication technology, the two sides said future partnership could help the development of the relevant sectors in both countries.

In response to Indian Prime Minister Narendra Modi's "Make in India" plan to encourage investment in India's manufacturing sector, India is hoping that Taiwanese companies can help build its manufacturing sector, duplicating their experience in China, the Indian representatives said. In return, Taiwanese businesses could use India as their next production base, government officials and experts from both sides said during the meeting.

Taiwan's Vice Economics Minister Shen Jong-chin said that more Taiwanese companies would be willing to invest in India if there was an industrial park for them there and a guarantee that their investments would be protected.

The Taiwan government is ready to assist Taiwanese businesses investing in India, by helping them to integrate their resources, develop value-added production lines, and protect key production technology, he said. The MOUs were signed by Shen, on Taiwan behalf, and Amitabh Kant, secretary of India's Department of Industrial Policy & Promotion (DIPP). (By Charles Kang and Lee Hsin-Yin)


Updated : 2021-09-25 04:53 GMT+08:00