Huge demand, as well as the economic liberalization and structural reforms conducted by the Indian government since 1991 that scrapped restrictions in trading, investment, exchange rates and banking, are advantages driving the bureau to make the nation a major target.
According to the bureau's evaluation, local businesspeople have a good chance to capitalize on the Indian textile, machinery, chemical, auto and hardware sectors.
Foreign investors can also take advantage of India's 21 Special Economic Zones, which provide a duty-free environment for exports and manufacturing free from a plethora of rules and regulations.
To improve understanding of the Indian market, the Taiwan External Trade Development Council (TAITRA, 外貿協會), formerly known as the China External Trade Development Council, has started to recruit perspective investors to inspect the Indian chemistry industry late next month.
India is Taiwan's 25th largest trading partner with bilateral trade totaling US$1.14 billion in the first 10 months of last year.
In the same period of time, there were 115 Taiwanese investments in India to the value of US$114.57 billion, which ranged from electronic apparatus, food manufacturing, textiles and telecommunications to auto parts.
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