A visiting Indian trade mission made up of 40-plus members met with Taiwan trade officials and traders yesterday for business talks at the China External Trade Development Council (CETRA,
The Indian trade mission arrived in Taipei on Wednesday for trade talks under the co-sponsorship of the CETRA Office in Bombay and the India-Taipei Association in Taipei.
S.K. Verma, director of the India-Taipei Association (ITA) in Taipei, and Chang Shih-chang (張世昌), director of the CETRA office in Bombay, attended the talks.
More than 100 local traders also took part in the meeting.
Chang said that the traders in the mission mostly come from Bombay's Maharashtra district, the financial center of the city. He added that they are interested in purchasing semi-manufactured chemicals, agricultural machines, machine tools and electronics.
Chang pointed out that the there is potential for Taiwan manufacturers and business firms to increase their sales in the Indian market, noting that India's GDP growth for this year is expected to hit 6 percent despite the global economic slowdown.
Taiwan exported US$474 million worth of goods to India and imported US$382 million of goods in the first nine months of this year. Those figures represent a 14.3 percent drop in exports but a 0.9 percent increase in imports over the same period in the previous year.
S.K. Verma said that although two-way trade between Taiwan and India has decreased slightly, it has remained stable compared with trade with other regions.
The Indian official also called on local traders to grab the opportunity to tap the Indian market in the wake of the US lifting trade sanctions it imposed on India and Pakistan.
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