New Delhi, Jul 5 (PTI) The Taiwanese government on Wednesday said it will establish a Taipei Economic and Cultural Center (TECC) in Mumbai as part of a broader aim to further deepen cooperation with India.
At present, Taiwan has TECCs in Delhi and Chennai.
Taiwan’s decision to set up the TECC in India’s financial capital came at a time when leading Taiwanese companies are increasingly looking at relocating their production bases from China to India, the US and countries in Europe and North America amid Chinese military’s increasing muscle flexing around the self-governed island.
The relationship between China and Taiwan has become increasingly strained after US House Speaker Nancy Palosi’s visit to the island in August last year.
India is keen on having production facilities of leading Taiwanese chip producers, including Taiwan Semiconductor Manufacturing Corporation (TSMC), the world’s largest chipmaker whose clients included Apple.
In a statement, the Taiwanese foreign ministry said the decision to set up the TECC in Mumbai was taken in view of “significant progress” witnessed in cooperation between India and Taiwan in areas of trade, critical supply chains, science and technology, culture, and education in recent years.
In light of this development, the Taiwan government will establish the Taipei Economic and Cultural Center in Mumbai in order to further deepen exchanges and cooperation between the two countries, it said.
“Since the TECC in Chennai was set up in 2012, nearly 60 per cent of all Taiwanese businesses investing and opening factories in India have chosen to develop their operations in southern India,” it said.
“Chennai and its surrounding areas have thus benefited from the investments made by Taiwanese manufacturing industries. The establishment of the TECC in Mumbai is expected to have a similar effect in western India,” the foreign ministry said.
It also referred to India’s increasing economic prowess and demographic dividend.
“India became the world’s fifth largest economy in 2022, and becomes the most populous nation this year. With its enormous market and related business opportunities, India has emerged as a major investment destination for global enterprises,” the ministry said.
It said the TECC in Mumbai will help expand mutually beneficial trade and investment opportunities between Taiwan and India.
“Under Taiwan’s New Southbound Policy, it will also promote exchanges and cooperation in science and technology, education, culture, and people-to-people ties between Taiwan and western India,” it said.
“Furthermore, the TECC in Mumbai will provide visa services, document authentication, and emergency assistance to businesspeople, tourists, and Taiwanese nationals in the states of Maharashtra, Goa, Gujarat, and Madhya Pradesh, as well as the Union territory of Dadra and Nagar Haveli and Daman and Diu,” the statement said.
Though India and Taiwan do not have formal diplomatic ties, the bilateral trade relations have been on an upswing.
In 1995, New Delhi set up the India-Taipei Association (ITA) in Taipei to promote interactions between the two sides and to facilitate business, tourism and cultural exchanges.
The ITA has also been authorised to provide all consular and passport services.
In the same year, Taiwan too established the Taipei Economic and Cultural Center in Delhi. PTI MPB KVK KVK
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