As part of its efforts to tap the growing textile and clothing markets in India, Taiwan Government has decided to make an investment of about US $4 billion in India by 2010.
Many big-bannered Taiwan companies have already entered the Indian markets, with current investments totaling $400 million. This points out to the fact that Taiwan enterprises regard India as a land replete with strong economic opportunities, especially in the textile and clothing sectors.
On its part, India has also taken a number of steps to attract Taiwan companies to invest in the country. To begin with, the Indian Industrial League has highlighted a list of dos and don'ts in order to lure Taiwan investments.
Firstly, the double tax agreement should be avoided at all costs; secondly, both sides should accept the technical standards set for each other; thirdly, investment environment in all Indian cities should be similar and conducive and lastly, it should be easy for Indian professionals to go to Taiwan for work.
The Indian Government has also promised to provide Taiwan companies a steady supply of skilled manpower. On the other hand, Taiwan companies have proposed to provide consultation about international trade.
Fibre2fashion News Desk - China
marketing@alchempro.com
