India is a favorable destination for Taiwanese manufacturers with a huge market, many young and skilled talent, a pluralistic society with strong rule of law, and credible long-term partnerships, India Taipei Association (ITA) Director-General Manharsinh Laxmanbhai Yadav said yesterday.
Yadav made the remarks at a luncheon with local researchers and reporters at the ITA office in Taipei, joined by Indian Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh, who is leading a group of more than 50 Indian delegates visiting Taiwan from Tuesday to tomorrow to deepen economic and people-to-people ties.
The delegation comprises key figures from the Federation of Indian Chambers of Commerce and Industry and Electronic Industries Association of India.
Photo: Lee I-chia, Taipei Times
Singh is the highest-ranking Indian official that has visited Taiwan this year. He took up the post of DPIIT secretary in April, and also serves as the ex officio chairperson of the Indian National Investment Promotion and Facilitation Agency (Invest India) .
During the four-day visit, the delegation is to participate in the second India-Taiwan CEO Roundtable, the seventh India-Taiwan Industrial Collaboration Summit and the 16th India-Taiwan Economic Consultation, and visit the Taipei International Electronics Show (Taitronics).
In addition to meeting with various businesses and industry associations, Singh is to meet with senior officials in key economy-related ministries during his visit.
Photo courtesy of the ITA
“We believe there are many complementarities between India and Taiwan in many ways, and as India moves on to faster growth in industrialization, we feel there is a lot of potential for partnership,” Singh said at the luncheon.
Taiwan’s strengths include hardware, semiconductors and other technologies, while India has the world’s largest and one of the youngest populations — with about 65 percent of working-age people — and a strong and decisive government that provides political and macroeconomic stability, he said.
“As India is on the move, we would love to have Taiwan to be active participants in our growth story,” he added.
Photo courtesy of the ITA
A presentation by Invest India highlighted that in recent years, India has emerged to be the fastest-growing major economy and one of the highest recipients of foreign direct investment, which doubled in the past eight years from about US$35 billion to US$84 billion.
India’s manufacturing GDP is expected to grow by 15 times and services GDP is expected to grow 13-fold in the next 25 years, it said.
The presentation also listed business reforms in India designed to benefit foreign direct investments, including reduced corporate tax, financial incentives for semiconductors and display manufacturers, the National Single Window System, which is a one-stop digital platform for all investor approvals, and ongoing infrastructure developments across the country.
There are three key points that Taiwanese companies prioritize when they want to diversify their business, and India meets these — a huge market with skilled talent, pluralistic democracy and longstanding credible partnerships — so he believes Taiwanese companies would find India to be a good place for their manufacturing business, Yadav said.
Chinese spouse and influencer Guan Guan’s (關關) residency permit has been revoked for repeatedly posting pro-China videos that threaten national security, the National Immigration Agency confirmed today. Guan Guan has said many controversial statements in her videos posted to Douyin (抖音), including “the red flag will soon be painted all over Taiwan” and “Taiwan is an inseparable part of China,” and expressing hope for expedited reunification. The agency last year received multiple reports alleging that Guan Guan had advocated for armed reunification. After verifying the reports, the agency last month issued a notice requiring her to appear and explain her actions. Guan
GIVE AND TAKE: Blood demand continues to rise each year, while fewer young donors are available due to the nation’s falling birthrate, a doctor said Blood donors can redeem points earned from donations to obtain limited edition Formosan black bear travel mugs, the Kaohsiung Blood Center said yesterday, as it announced a goal of stocking 20,000 units of blood prior to the Lunar New Year. The last month of the lunar year is National Blood Donation Month, when local centers seek to stockpile blood for use during the Lunar New Year holiday. The blood demand in southern Taiwan — including Tainan and Kaohsiung, as well as Chiayi, Pingtung, Penghu and Taitung counties — is about 2,000 units per day, the center said. The donation campaign aims to boost
The Kaohsiung Tourism Bureau audited six hotels in an effort to prevent price gouging ahead of Korean band BTS’ concert tour in the city scheduled for Nov. 19, 21 and 22 this year. The bureau on Friday said that the audits — conducted in response to allegations of unfair pricing posted on social media — found no wrongdoing. These establishments included the local branches of Chateau de Chine, Hotel Nikko, My Humble House, and Grand Hai Lai, it said, adding that the Consumer Protection Commission would have penalized price gougers had the accusations been substantiated. The bureau said the Tourism Development Act
BACK TO WINTER: A strong continental cold air mass would move south on Tuesday next week, bringing colder temperatures to northern and central Taiwan A tropical depression east of the Philippines could soon be upgraded to be the first tropical storm of this year, the Central Weather Administration (CWA) said yesterday, adding that the next cold air mass is forecast to arrive on Monday next week. CWA forecaster Cheng Jie-ren (鄭傑仁) said the first tropical depression of this year is over waters east of the Philippines, about 1,867km southeast of Oluanpi (鵝鑾鼻), and could strengthen into Tropical Storm Nokaen by early today. The system is moving slowly from northwest to north, and is expected to remain east of the Philippines with little chance of affecting Taiwan,
RSS