Taiwan officials and manufacturers in the country are encouraging business to follow their lead
Taiwan News
Date: 2019/01/04
By: Ryan Drillsma, Taiwan News, Staff Writer
The Indian flag (Image by Pexels)
TAIPEI (Taiwan News) — Taiwan External Trade Development Council Chairman James Huang (黃志芳) has said India is the “jewel” in Taiwan’s new economic strategy, according to Financial Times.
The newspaper reports there are signs Taiwan is channeling its economic focus on India in order to break free of the chains created by years of increasing economic dependence on China.
Huang said industrial subsidies offered by the Indian government, coupled with the country’s highly-skilled, low-cost labor force makes it a perfect site for Taiwanese electronic manufacturing. Financial Times reports Huang also commented favorably on New Delhi’s target GDP growth of eight to ten percent.
Although Tsai Ing-wen and her administration are diligently pursuing a shift in economic relations to Southeast Asian nations involved in the New Southbound Policy, India’s larger economy and population, which is set to overtake China’s by 2022, make it an invaluable target partner that could be Taiwan’s savior from falling under the reins of Beijing, if domestic political changes occur. [FULL STORY]
