Taipei, Sept. 4 (CNA) Taiwan businesses are encouraged to take advantage of India's talent and investment environment so that both sides can foster already robust economic ties, Indian delegates said in a conference Tuesday.
The future looks optimistic, said India-Taipei Association (ITA) Director-General T.P. Seetharam, as during his first seven months in office, the number of Taiwanese companies attending trade conferences has grown from 80 to 150. The ITA is India's official representative office in Taiwan.
"It's not a problem of whether Taiwanese companies will invest in India but how and when they will do so. Taiwanese businesses are currently exploring India in every aspect, " Seetharam said.
More than 2,000 Indian engineers and professionals working in Taiwan have made great contributions to Taiwan's high-tech industry, said Yu Shyi-kun, chairman of the Taiwan-India Cooperation Council (TICC).
While most Taiwanese corporations still consider China as their primary investment destination, Yu said India present great opportunities for Taiwan businesses trying to expand their global reach.
Economic relations between Taiwan and India have been growing fast since the Taiwan government initiated an action plan in 2006 to boost bilateral economic ties, said Economic Vice Minister Hsieh Fadah.
Up to January this year, bilateral trade compared to the same period of the previous year had risen 112 percent, Hsieh said.
"We're at the beginning of a very exciting story. India and Taiwan are now more closely intertwined, " said Ajay Shankar, secretary of India's Department of Industrial Policy and Promotion.