Veeramalla Anjaiah
To get more Taiwanese investment, India should ease labour laws and streamline work visas, Kristy Hsu, director of the Taiwan-ASEAN Studies Center, has said in an interview to Moneycontrol news website.
A free trade agreement (FTA) between Taiwan and India would be mutually beneficial, which would not only boost ties but also create economic opportunities for both sides, Kristy Hsu, who is from the Chung-Hua Institution for Economic Research, has said.
India will play a bigger role in global trade, especially in labour-intensive sectors, as it builds its supply chains, she said, adding that Taiwanese companies and their customers want to delink from China.
“Taiwan did an FTA feasibility study with India 10 years back. It wants an FTA with India. If India wants to export agriculture products to Taiwan, we will reduce our tariffs through FTA,” Hsu, who also advises the Taiwan Chamber of Commerce in India (TCCI), said in an interview to Moneycontrol.
If India were to reduce tariffs on imports of components needed by Taiwanese companies manufacturing in India, it would give a fillip to trade, she said. To attract more Taiwanese investment, India should ease labour laws and streamline work visas, she said.
Taiwanese companies have stepped up investment in India, particularly in sectors such as electronics manufacturing, semiconductors and electric vehicles (EVs).
Major Taiwanese companies such as Foxconn, Wistron, and Pegatron largely import electronic integrated circuits, semiconductors, EV components, and machinery from Taiwan.
In FY25, bilateral trade between India and Taiwan stood at $11.8 billion, 17 percent higher than the previous year.
Over the past decade, Taiwanese companies’ interest in investing in India has surged, she said. In 2015, TCCI had around 80 member companies, which has grown close to 200 now.
No comments:
Post a Comment