With three back-to-back investment roadshows in India, the Taiwan government is exploring opportunities to boost two-way investment and trade between India and Taiwan.
Taiwan, with a GDP (gross domestic product) of 10.8% in 2010, has expressed its interest in making investments in Indian hi-tech tools and machinery, biotech, medical tourism, renewable energy, information technology (I-T) and digital content sectors. Taiwan has invited India to invest in sectors such as hotel, medical tourism, digital content industry, renewable energy.At present, India's share in Taiwan's total foreign direct investment is 0.1% ($1 billion).
"As trade and investment will take centrestage of our bilateral relationship, our aim is to increase India's FDI share in Taiwan through investment," said Christina Y Liu, minister, council for economic planning and development.
Taiwanese officials are on a five-day visit - from February 20-25 - in India. The team of 90 delegates comprises of 34 government and Cabinet representatives, and 56 trade and industry representatives. The delegation conducted a roadshow in the Capital on Monday, which will be followed by Mumbai and Ahmedabad.
The improved relationship between Taiwan and Mainland China and the Economic Co-operation Framework Agreement, slated to come into effect in January, has helped Taiwan enter a mutually-beneficial cross-strait business relation, Liu said.
"Since, we've reduced our income tax rate from 25% to 17%, there won't be any tax exemptions, but we'll help foreign investors in facilitating the process of business approvals and eliminating investment obstacles."
"India's response to our visit is very warm and welcoming, which makes us feel optimistic in our trade relationship," said Liu.