To increase commercial and business opportunities between Taipei and New Delhi that are mutually advantageous, Taiwan will open the “Taipei Economic and Cultural Centre” in Mumbai. “Recent cooperation between Taiwan and India has seen notable advancements in a variety of fields, including economics and trade, science and technology, crucial supply chains, culture, education, and traditional medicine. In response to this development, the Taiwanese government announced plans to open the Taipei Economic and Cultural Centre (TECC) in Mumbai in an effort to strengthen ties and collaboration between the two nations.
Taipei Economic and Cultural Center in Mumbai
Following the establishment of TECC in Chennai in 2012, over 60% of all Taiwanese companies investing in and opening factories in India have opted to expand their operations in southern India. Chennai and the neighbouring areas have benefited from Taiwanese manufacturing businesses’ investments as well. According to the statement, Western India is anticipated to experience a similar impact from the development of the TECC in Mumbai.
The statement claims that the TECC in Mumbai will aid in boosting trade and investment possibilities between Taiwan and India. The New Southbound Policy of Taiwan would also encourage interactions and collaboration between Taiwan and Western India in the fields of education, culture, science, and technology. Additionally, businesspeople, tourists, and citizens of Taiwan will be able to get visa services, document authentication, and emergency support in the states of Maharashtra, Goa, Gujarat, and Madhya Pradesh, as well as the union territories of Dadra and Nagar Haveli and Daman and Diu.
To provide quality services to Taiwanese nationals and overseas compatriots, the TECC in Mumbai will closely coordinate with the TECC in India and the TECC in Chennai, according to the statement. In line with Taiwan’s New Southbound Policy (NSP), which builds on the achievements of several of her predecessors, and the Taiwanese government’s desire to reduce economic dependence on China, improving Taiwan-India relations is important. Businesses in Taiwan are becoming more interested in transferring their business relationships from China to India, and laws that encourage such collaboration could be advantageous to both parties.
Taiwan’s developing dynamic will have a big impact on India’s Act East Policy and its new role in the Indo-Pacific region. Building closer connections between Taiwan and India falls under the NSP umbrella, as do Taiwan’s relations with Japan, Australia, and the US.
Taiwan-India relations can profit from the positive synergy of collaboration in areas of trade, science, and even defence because these three nations, along with India, have established an Indo-Pacific entente cordiale known as the “Quad” to uphold a rules-based order in the region. Additionally, there may be a convergence of security interests between India and Taiwan that may be strengthened by communication between the strategic groups on the two sides. A closer partnership between India and Taiwan might boost mutually beneficial sectors like tourism, research and development, and educational linkages.
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