Taiwan sees huge trade potential with India

India is being perceived as a major market by Taiwan. This is attributed to a string of developments such as the New South Policy (2016), the current China-US trade tensions and the escalation of costs in China. In the light of these circumstances, Taiwan is turning to India and stipulating a 20% y-o-y growth in trade with India.

Walter Yeh, President & CEO of Taiwan External Trade Development Council (TAITRA), opines that “there is no limit to the growth potential. The current trade volume between India and Taiwan is to the tune of US$ 7 billion. There is a lot of market to scale up further”.

At present, the major items that India imports from Taiwan include electrical machinery and equipment, plastics, machine tools and organic chemicals; while the top Indian exports to Taiwan comprise mineral fuels, oil seeds, maize, iron and steel and organic chemicals.