Taiwan to participate in Make In India campaign

Plans manufacturing base in ICT, consumer electronics, auto components

Taiwan is exploring investment opportunities in India in a big way, said its trade envoy here.

Guann Jyh Lee, head of their missions' economic centre in India, told Business Standard: “For the past decades, Taiwanese investors contributed a lot in China's growth story and they were also the largest FDI (foreign direct investment) contributor. Despite present trends, China will still grow but how fast it will continue the growth needs to be seen.  However, India  is expected to be the second largest and the world’s fastest growing economy in the next five years. Taiwan is looking at the global supply chain and, therefore, in addition to China, it is targeting some potential destinations, including India, for increasing the presence of Taiwanese companies.”

Lee said the Chinese government continues to provide incentives to attract investment. However, the Modi government here shows more determination and energy in the development of markets.

 

Lee, here at a function to showcase new products, cited some hurdles -- infrastructure bottlenecks, consistency in regulations and cultural barriers — which needed to be removed. “There should be consistent implementation and interpretation about regulations,” he opined.

Further, Lee said Taiwanese investors had concerns over the ease of doing business in India. They want the government to be a facilitator and a simplification of procedures.