Taipei Times: How would you describe the overall growth of bilateral relations between India and Taiwan?
Sridharan Madhusudhanan: The India-Taiwan relationship is growing and characterized by a high degree of complementarity. Last year, Taiwan’s government introduced the “new southbound policy.” Similarly, India is adopting a new policy called Act East Policy. The synergy of the two policies injects new momentum to the bilateral relationship.
India is the fastest-growing economy in the world, with GDP growth of more than 7 percent. It has a population of 1.3 billion people, with an average age of 29. Many people want to buy clothes, electronic goods, machinery tools, petrochemical products and other things.
Photo: Lo Chien-yi, Taipei Times
Many countries are already participating in and benefiting from India’s economic growth.
In recent years, India has received the fast-growing foreign investment in Asia, with Taiwan contributing a small share. There is obviously a huge mismatch between Taiwan and the rest of the world. This is where we can help bridge.
TT: What is the significance of the economic logic of this relationship? How is it playing out?
Madhusudhanan: Currently, we have 900 million people using mobile phones, with 250 million of them smartphones. That is a rapid addition of 150 million from just two years ago. It also means a vast market [of 650 million] is going to change within the next few years.
In India, there are still 350 million [cathode ray] tube TVs. This suggests huge and immediate business potential for smartphone and flat-panel TV makers. Firms can make and sell in India, or make in India and export elsewhere.
Taiwan is reaching out for more connections in South Asia and transforming its economic model with a focus on innovation and branding. Innovation requires collaboration, and we welcome international brands.
The start-up market is also huge in India. India is inviting partners with capital, capability and cutting-edge technology to join in its growth.
TT: How have Taiwanese corporations fared in India?
Madhusudhanan: Taiwan’s corporations have invested in India in the diverse fields of information and communications technology [ICT], medical devices, automobile components, machinery, steel, electronics, construction, engineering, financial services and more.
In the last few years alone, Taiwanese companies that have invested in India include Cheng Shin Rubber Industry Co [正新橡膠], CTCI Corp [中鼎工程], Delta Electronics Inc [台達電], HTC Corp [宏達電], Feng Tay Enterprise Co [豐泰鞋業], Asustek Computer Inc [華碩], China Steel Corp [中鋼] and MediaTek Inc [聯發科], to name just a few.
Cheng Shin Rubber, which sells its products under the Maxxis brand, has received orders filled up to 2019. The Taiwanese companies in India have long-term interests in India. They are growing well and their scope remains enormous.
TT: Is the India-Taiwan relationship restricted to the economic field?
Madhusudhanan: The relationship is multifaceted. Recently, we signed cooperative documents connecting the fields of agriculture, mountain railways and civil airlines.
There is a steady growth of relationships in the field of science and technology. The cooperation has included joint research projects and workshops. A total of 72 joint research projects have been carried out.
The cooperation areas include earthquake-related science and engineering, disaster management, nanotechnology, tropical and infectious diseases and ICT among others. Both sides intend to work together in new areas such as “green” energy and innovation.
The two sides inked two MOUs [memorandums of understanding] in September last year, one on agricultural cooperation and another on civil aviation. The agreements provide platforms for further increases in economic activity.
The cooperation on mountain railways demonstrates the widening range of cooperative fields. We want more Indians to enjoy a ride on the Alishan railway and more Taiwanese friends to ride on India’s mountain railways at Darjeeling, Simla and Ooty.
TT: How is the people-to-people relationship between India and Taiwan?
Madhusudhanan: The people-to-people relationship is the heart of bilateral exchanges. India and Taiwan share common cultural elements and interests.
Buddhism is a major bridge that connects us. Recently, when I joined and walked for nine days with the Dajia Matsu Pilgrimage, I learned about many more commonalities. For example, I found that the stories of Taiwan’s San Taizi [the Third Prince, 三太子] and India’s Krishna are very similar.
Every day, millions of Indian and Taiwanese people are connected through practices like yoga and meditation. Indian food is mainstream among Taiwanese diners. Indian dances and music forms are cherished and Indian movies are very popular in Taiwan. Bollywood actor Amir Khan has given a special video to thank the people of Taiwan for the grand success of his latest movie, Dangal, in Taiwan.
Tourism is another major area with huge potential. The cultural elements mentioned above bring more and more people as tourists between India and Taiwan.
TT: There are many Indian students in Taiwan. How do you think they contribute to the overall relationship?
Madhusudhanan: The India-Taiwan academic cooperation involves academic exchanges between universities, the creation of Taiwan Education Centers in India, provision of scholarships to Indian and Taiwanese students and long-term studies of Indian students in Taiwan.
More than 100 cooperative documents have been signed between Indian and Taiwanese academic institutions. Presently, more than 1,100 Indian students are pursuing courses in more than 40 different universities in Taiwan, and the number is growing, but this is quite a small number when compared to the roles these youngsters can play in enhancing the India-Taiwan relationship.
Recently, I visited Chiayi’s Wufeng University and Far East Machinery Co (遠東機械), which have a cooperation arrangement. Indian students are studying at the university and undergoing internship at the company.
At the end of their academic courses, Indian students would have relevant technical education, Taiwanese industry experience, understanding of Taiwanese and Chinese-language capabilities.
They already have a deep understanding of India and English communication skills, so they could contribute to Taiwan’s industries anywhere in the world, including in India. If Taiwan’s industries have plans to invest and grow in India, these youngsters could add valuable momentum to that process.
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