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Taiwan eyes new business deals in India

Posted by on February 17, 2011 0 Comment

New Delhi, Feb 17 (IANS) Buoyed by the signing of a landmark trade treaty with China a year ago, Taiwan is sending an 80-member delegation to India on a six-day visit Sunday to scout for new business opportunities.

The delegation comprising iconic Taiwanese companies like Delta Electronics, Winbond Electronics, TECO Electric and Machinery and Polaris Financial Group will be headed by Christina Liu, minister of the council for economic planning and development.

They will also be holding a business networking meeting with top Indian companies here Monday.

Senior officials and representatives of six local Taiwanese governments, including Taipei City, will be part of the contingent that will also visit Mumbai and Ahamedabad.

“Trade and investment will take the centre stage of the bilateral relationship in the foreseeable future. The historic visit holds the promise of taking the bilateral relationship to a new level,” Wenchyi Ong, representative of Taipei Economic and Cultural Centre in New Delhi, said in a statement.

Taiwanese companies will also be looking for tie-ups with Indian firms to leverage their strengths and work together in what they call the ‘Greater Chinese market.’

Top Taiwanese companies like HTC, Acer, BenQ and CEC are already thriving in India.

The Taiwanese delegation comes here over two months after Chinese Premier Wen Jiabao’s state visit to the country that clinched business deals estimated at over $15 billion.

India, which did not loom high on Taipei’s horizon during its Asian Tiger days in the 1990s, is now a focus country as the Indian economy continues to grow at over 8 percent despite the persisting blowback of the global meltdown.

Although India officially follows one-China policy, this has not deterred Taiwan, the world’s 17th largest economy and the world’s top producer of PC notebooks, from setting an ambitious target to scale up its bilateral trade from the current $6 billion to $10 billion in the next five years.

Only 23 countries recognize Taiwan, a self-ruled democracy that split from mainland China in 1949, and lost its UN seat to Beijing in 1971.

Keen not to put all eggs in the Chinese investment, Taiwan has identified emerging markets like India and Indonesia for promoting trade and industry.

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