NEWS

Inviting Taiwanese companies to make more investments in Karnataka, Large and Medium Industries Minister promised to extend support and cooperation of the state government

INDIA – TAIWAN RELATIONS

ECONOMIC TIES

• India’s huge market provides Taiwan with investment opportunities. Taiwan’s reputation as the world leader in semiconductor and electronics complements India’s leadership in ITES (Information Technology-Enabled Services).
• India’s recent strides in the ease of business ranking not only provide Taiwan with lucrative business opportunities but also help it mitigate its over-dependence on one country for investment opportunities.

Tourism

• India and Taiwan need to deepen people-to-people connect.
• Tourism is the key tool in this exchange.
• The Buddhist pilgrimage tour needs better connectivity and visibility, in addition to showcasing incredible India’s diversity. This will accelerate the flow of Taiwanese tourists.
• With the Taiwan Tourism Bureau partnering with Mumbai Metro, Taiwan is trying to raise awareness about the country and increase the inflow of Indian tourists.

Air Pollution

• Taiwan could be a valuable partner in dealing with this challenge through its bio-friendly technologies.
• Such methods are applied to convert agricultural waste into value-added and environmentally beneficial renewable energy or biochemicals.
• This will be a win-win situation as it will help in dealing with air pollution and also enhance farmers’ income.
• Further, New Delhi and Taipei can also undertake joint research and development initiatives in the field of organic farming.

TAIWAN

• Taiwan – the Republic of China (ROC)
• Island off the southern coast of China that has been governed independently from mainland China since 1949
• Neighbours include China (officially the People’s Republic of China, PRC) to the west, Japan to the northeast, and the Philippines to the south.
• Most populous state that is not a member of the United Nations and the largest economy outside the UN.
• 5th largest economy in Asia’s
• Global leader in chip manufacture and the second-largest manufacturer of IT hardware, etc.