Indian Economy News

Taiwan delegation's India visit a fresh boost to business ties: Report

  • IBEF
  • November 24, 2022

A delegation from Taiwan’s visit to several Indian states earlier this month resulted in the signing of three memorandums of understanding between Taiwan and India that are intended to promote electronics manufacturing and green technologies, according to the English-language Common Wealth Magazine website based in Taiwan.

To examine the untapped economic possibilities between the two countries, a number of high-level business delegations from Taiwan Electrical and Electronic Manufacturers' Association (TEEMA) and Taiwan India Business Association (TIBA) visited India.

Key learnings from the delegation's visit were the awareness that India has a large pool of talent and that effective utilisation of Indian people will optimise business growth.

A proper supply chain and the necessity of product localization in gaining a foothold in India's 1.4 billion-person market were also mentioned. The necessity to break the monotonous thinking about the cultural divides between Taiwan and India was another subject that emerged.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.