Taipei, Aug. 31 (CNA) Fueled by Taiwan's "Go South" policy and growing uncertainty in the China market, interest on the part of Taiwanese corporations when it comes to investing in India has increased vastly. Help from Taiwan's government will be vital for corporate access to India's market, forum participants said Thursday in Taipei.
There is so much the government of Taiwan can do to help corporations that are interested in -- but having difficulty -- investing in India, Sean Kao of the Market Intelligence Center (MIC) said in a forum that discussed boosting bilateral investments between Taiwan and India.
For Taiwanese corporations, investing in India is a problem of great complexity because there are different regulations and tax rates in 28 states and the language barrier issue, said Lin Shih-chia, Deputy Secretary-General of Taiwan-India Cooperation Council (TICC) -- the forum's organizer.
"The government can be a great help [for corporations], from setting up a one-stop service, shortening customs clearance to establishing a Taiwanese industrial park, " Kao said.
Taiwan is also keen on a free trade agreement (FTA) with India, said Eric Wu, General Manager of iSuppli Taiwan. Once accomplished, the FTA will also help Taiwanese businesses in India.
As Taiwanese businesses are more curious than ever about India, they should also deal with it cautiously, warned Kung Ming-yi, Vice President of the Taiwan Institute of Economic Research.
"The situation in India has been a little bit confusing for Taiwanese businesses. Because they see niches and difficulties at the same time, " Kung said.
"It is why I encourage all businesses that want to invest in India should take a good hard look in the mirror and ask themselves what they really want. Are you going there for Indian technology talents, making money in India market, or try to establish a base of production there? " Kung said.