Taipei, Sept. 4 (CNA) Key sectors such as ICT (information and communication technology) , LCD (liquid crystal display) and semiconductors should lead the way for Taiwanese businesses that want to make their footprints in India, the chief executive of an Indian enterprise said Tuesday in a Taipei conference.
Gopal Srinivasan, director of TVS Electronics and chairman of the Confederation of Indian Industries, Tamil Nadu, briefed more than 100 Taiwanese companies on appropriate strategies for investing in India at the conference on the advantages and prospects for Taiwan-India economic, trade and industrial collaboration that was organized by the Taiwan-India Cooperation Council (TICC).
Key sectors in Taiwan, which include ICT, LCD and semicionductors, textiles and apparel, and leather and footwear, should lead the way so others have the confidence to follow, he said.
The investment value of the Taiwanese ICT sector in India has surpassed US$600 million while the investment of the leather and footwear sector has exceeded US$127 million.
Taiwanese companies were also encouraged to make India an integral part of their knowledge strategy, as India has a large pool of talent. The focus for Taiwanese corporations should be on addressing domestic demand, since India is a large market, he added.
Investing in India makes sense for Taiwanese companies, he went on. According to a survey, he said, over 69 percent of respondents reported a higher profitability average in India than they did globally.