India consider trade talk with Taiwan

Talk and support is growing within the government to start a talk on trade deal with Taiwan as both the countries relations with China are not healthy.

Taiwan has sought trade talks with India for several years, but Indian government was unwilling to move ahead because it didn’t want to angry China, but the situation has changed from last six months and the government is considering Taiwan as hope.

Over the past few months, the hawkers in India who want to start trade talk with Taiwan are getting upper hand from the government.

The Union government gave approval earlier this month to firms including Taiwan’s Foxconn Technology Group, Wistron Corp. and Pegatron Corp. as PM Narendra Modi is looking to attract investment worth more than 10.5 trillion rupees ($143 billion) for smartphone production over five years.

Any formal talks with India is a big win for Taiwanese government.

India and Taiwan in 2018 signed an updated bilateral investment agreement in a bid to further expand economic ties. Trade between them grew 18% to $7.2 billion in 2019, according to the Department of Commerce.

“We have to think about the way for democracies, for like-minded countries, to work further together,” Taiwan foreign minister Joseph Wu said during an interview with India Today TV. “We have traditional good relations with the United States, with Japan, and we want to develop closer ties with India as well.”

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