India and Taiwan | A Growth Led Partnership
“India and Taiwan share strong foundations in their mutual respect for shared values, converging strategic interests and business ethics. In the recent past, our ties have been further strengthened by a growing realization among both sides of the need of a deeper and closer engagement with each other. This has been complemented by our enhancing bilateral trade and investment scenario along with newer areas of cooperation such as technology sharing, digital economy and electronics manufacturing.
This closeness has been further cemented due to the ongoing spread of Coronavirus that has brought unprecedented disruption in global supply chains. This disruption is leading several companies to rethink their international manufacturing base strategy to help them diversify their risk and to assure them of continuous independent supplies. To bolster this, Taiwan has expressed its further intent to assist its anchor unit companies and supply chain companies to establish operations overseas to align with their New Southbound Policy, which includes India as a growth partner amongst other nations.
India and Taiwan are celebrating 25 years of their partnership since the establishment of TECC in India. Mutual efforts between New Delhi and Taipei have enabled a range of bilateral agreements covering agriculture, investment, customs, civil aviation, industrial cooperation and many other areas. As trade volumes go up and new engagements are being forged across various domains such as investments and startups, it is also important to deepen and expand our people-to-people connect. Sharing deep rooted commonalities in religion, culture, education and cuisine, both India and Taiwan have a long road in the future and many more heights to scale as we both look to an ever-stronger friendship in the post-Covid global order.”