Economic officials from Taiwan and India expressed hopes that both sides can cooperate on building a resilient supply chain and expand global business opportunities, the Ministry of Economic Affairs (MOEA) said yesterday.
The ministry in a statement said Deputy Minister of Economic Affairs Cynthia Kiang (江文若) and Amardeep Singh Bhatia, secretary of India’s Department for Promotion of Industry and Internal Trade, discussed global trade trends, investment strategies and supply chain cooperation during an economic and trade meeting held in Taipei on Wednesday.
Kiang said India has become a key destination for Taiwanese businesses seeking a safe and resilient supply chain framework, according to the statement.
Photo: Taipei Times file photo
She said the two countries can further strengthen cooperation in talent development, investment environments and policy coordination, and work together to build a resilient supply chain by combining Taiwan’s advanced technologies with India’s rich software talent pool.
Bhatia said Taiwan and India have built a strong foundation for cooperation, adding that India hopes to further expand supply chain partnerships with Taiwan as it seeks to attract more international companies through incentives and improved infrastructure.
At the meeting, Kiang and Bhatia also signed a memorandum of understanding (MOU) on cooperation regarding healthcare product regulations, the statement said.
The ministry said Bhatia also led a delegation of more than 30 Indian industry representatives to Taiwan for the fourth India-Taiwan CEOs Roundtable Meeting on Tuesday, where participating businesses offered recommendations to both governments.
Data compiled by the Ministry of Finance showed that trade between Taiwan and India reached a record US$10.6 billion last year, and totaled US$10.17 billion in the first 10 months of this year marking a 17.69 percent increase from the same period last year.
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