Keen to tap the huge Indian market, Taiwanese business leaders yesterday said that the scope for investment in India has increased with the new government adopting pro-business policies, as reported by PTI.
A business delegation from Taiwan, which has expertise in IT and electronic, is looking for business opportunities in India and use its geographical proximity to the markets of Africa, Middle East and South Asian markets.
"We see a chance for cooperation between Taiwan and India because of Modi's policy. Modi's government is more pro business and pro investment... It has adopted a very strong policy for the foreign companies to invest in India," Yen Shiang Shih, delegation leader told PTI.
"Taiwanese companies mainly focused on mainland China, which also has a huge domestic market. We poured lot of resources on China and invested around $10 billion. But now the Taiwanese companies want to diversify, particularly in the South Asia region using India as a centre," Shih said on the sidelines of Taiwan India Joint Business Councils Meeting held at Ficci.
Taiwan has very strong IT industry such as semiconductors, IC and India imports them.
However, he also added that the Indian government should provide assistance to the Taiwanese firms as they are not familiar with India.