Mon, Aug 06, 2012 - Page 14 News List

Taiwan and India discuss business

MONEY TALKS:The Bureau of Foreign Trade has signed a memorandum of understanding with Standard Chartered, the largest foreign bank in Taiwan and India

Staff writer, with CNA, TAIPEI

Entrepreneurs and economists from Taiwan and India will discuss business opportunities at a seminar in Taipei today in a bid to boost bilateral trade.

The seminar, co-hosted by Taiwan’s Bureau of Foreign Trade and British banking group Standard Chartered PLC, will invite a number of successful corporate executives to speak on operating businesses in India.

Indian attendees will include Sharad Mahendra, senior vice president of India’s No. 3 steelmaker JSW Steel, and Raj Easwaran, managing director of Indian electrical and electronics manufacturer Easun Group.

Representatives from Taiwan’s electronics equipment maker Delta Electronics Inc (台達電) and personal computer brand Asustek Computer Inc (華碩) will also take part in the seminar.

In addition, Deputy Economics Minister Cho Shih-chao (卓士昭) and Pradeep Kumar Rawat, director general of the India-Taipei Association, will speak at the opening of the event.

Jaspal Bindra, group executive director and a member of the board of Standard Chartered, will also deliver a keynote speech entitled “The future of global trade.”

On May 9, Taiwan’s Bureau of Foreign Trade signed a memorandum of understanding with Standard Chartered — its first-ever deal with a foreign bank — to expand the India market through the banking group’s international presence.

Standard Chartered is currently the largest foreign bank in India. It also has the widest reach among all foreign banks in Taiwan.

According to the Ministry of Economic Affairs, bilateral trade between Taiwan and India grew 17 percent annually to US$7.56 billion last year, the highest since the two sides set up representative offices in 1995.

India now ranks as Taiwan’s 16th-largest trade partner, as well as the 15th-largest export destination market and the 16th-placed import country for Taiwan, the ministry said.

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