Taiwan and India held their 18th economic consultations Dec. 3 in Taipei City to exchange views on global trade developments and explore ways to deepen bilateral investment and supply chain cooperation.
According to the Ministry of Economic Affairs, the event was convened by Deputy Minister Cynthia Kiang and Amardeep Singh Bhatia, secretary of India’s Department for Promotion of Industry and Internal Trade.
Kiang said that given the rapid changes in the global economic and trade landscape, countries are working hard to forge secure and resilient supply chains.
India is a key destination for local firms seeking to increase their global presence, she said, adding that the government looks forward to expanding cooperation with India, especially by leveraging Taiwan’s high-tech technologies and India’s strong software talent pool.
Bhatia said the two sides have built a strong cooperative foundation through multiple collaborative pacts concluded over the years. The government is stepping up investment incentives and expanding infrastructure development, he said, expressing hope of more Taiwanese firms setting up supply chains in India to jointly explore global business opportunities.
A memorandum of understanding on cooperation in pharmaceutical product regulations was also inked at the meeting, while another MOU was signed via videoconference between Taiwan’s Financial Supervisory Commission and the Indian International Financial Services Centres Authority.
Official statistics show that bilateral trade hit a record high of US$10.6 billion in 2024. The figure amounted to US$10.17 billion for the first 10 months of 2025, up 17.69 percent year over year and set to reach another new annual high. (SFC-E)
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