TAIPEI (Taiwan News) -- Marking increased tie-ups in the field of education, two Taiwanese science parks and a university signed a memorandum of understanding (MoU) with an Indian institute of higher learning on industrial and research exchanges.
The MoU was inked by the Hsinchu Science Park, Central Taiwan Science Park. Taichung, and National Yunlin University of Science and Technology, Yunlin, with the Indian Institute of Technology, Hyderabad (IIT-H). HSP director-general Wayne Wang, CTSP director-general Chen Ming-huang, Yunlin university president Yang Neng-shu and IIT-H director Uday B. Desai signed the MoU on behalf of their respective organizations.
According to the HSP, the accord will promote the internationalization of Taiwan’s research environment while fostering academia-industry cooperation between the two nations in line with the government’s New Southbound Policy. A central plank of President Tsai Ing-wen’s national development strategy, the initiative aims to deepen agricultural, business, education, tourism and trade links with India as well as the 10 Association of Southeast Asian Nations (ASEAN) member states, five other South Asian countries, Australia and New Zealand.
Under the agreement, the HSP will establish a space in the park for Indian startups and introduce measures to help Indians studying in Taiwan find job opportunities after graduation. The Taiwan science parks will also work toward recruiting roughly 100 Indian engineers annually as well as help resident companies explore new business opportunities in the nation.
The pact will also facilitate greater information sharing between the Taiwan institutions and the Indian university.
Taiwan-India ties have expanded significantly in recent years, with total bilateral trade volume increasing from about US$1.2 billion in 2000 to US$5 billion in 2016.
According to the Bureau of Foreign Trade, India was Taiwan's 7th largest trading partner last year, when Taiwan recorded exports to India of US$2.8 billion and imports of US$2.2 billion.