Vice Minister of Economic Affairs Francis Liang (梁國新) will lead a delegation to India next Tuesday, where he will attend a vice ministerial-level trade and economic conference, a Ministry of Economic Affairs official said yesterday.
The official said enterprises that will be represented in the delegation include China Steel Corp (中鋼), which is considering setting up an office in India.
With think tanks from Taiwan and India having embarked on -assessment reports on a free-trade agreement between the two countries, the issue could be touched upon during the conference, the official said.
Liang is also scheduled to inspect the investment environment in the cities of Chennai and Mumbai, the official said.
The ministry said the development of the South Korean and Japanese automobile industries in India have matured and that Taiwan’s China Synthetic Rubber Corp (CSRC, 中國合成橡膠), through -technological cooperation with Continental Carbon India Ltd, has begun producing tires in India, which is a big, but low-risk investment.
Two other major Taiwanese enterprises are also currently investing in India are Continental Engineering Corp (大陸工程), which has been awarded a subway construction project in New Delhi, and a cooperation agreement between Foxconn Technology Group (富士康) and Nokia Corp to tap into India’s 3C (computers, communications and consumer electronics) market.
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The New Taiwan dollar is on the verge of overtaking the yuan as Asia’s best carry-trade target given its lower risk of interest-rate and currency volatility. A strategy of borrowing the New Taiwan dollar to invest in higher-yielding alternatives has generated the second-highest return over the past month among Asian currencies behind the yuan, based on the Sharpe ratio that measures risk-adjusted relative returns. The New Taiwan dollar may soon replace its Chinese peer as the region’s favored carry trade tool, analysts say, citing Beijing’s efforts to support the yuan that can create wild swings in borrowing costs. In contrast,
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