New Delhi, Oct. 10: Taiwan is on the lookout for investment opportunities in India despite several obstacles.
Chii-Ming Yiin, vice-minister, ministry of economic affairs, Taiwan said, “We are looking for joint ventures and tieups in India in the fields of information technology, food processing, textiles, garments, construction footwear and even machinery”.
Speaking on the sidelines of a seminar on technology partnership with Taiwan organised by CII, Yiin said the Indian market is opening up and provides a huge potential for foreign investors. However, India presents its own sets of problems Yiin said, which include “language barriers, unfamiliarity with the Indian culture, and other socio-cultural problems.”
Yiin said India was not very keen on signing an investment protection agreement and a double taxation avoidance agreement with Taiwan. Investors there would be more eager to invest in India when these agreements were signed.
Yiin said China has been very pro-active in sending their business delegations to study the investment environment and also to offer incentive programmes to lure Taiwanese companies to invest in China. He said, “India has been lacking this zeal and initiative. We encourage such meetings as it will only help cement economic ties between us.”