The India Electronics and Semiconductor Association (IESA) has opened its first overseas office in Taipei. IESA head Ashwini K. Aggarwal presided over the opening ceremony on Monday.
Aggarwal said the Taipei office is aimed at promoting cooperation between the two sides. He said the design and manufacturing of India's electronics system is still in a preliminary stage but Taiwan's industry has played a major role in global markets.
Taipei Office's Secretary-General Chan Man-jung said the Indian government welcomes Taiwanese investment and is willing to offer tariff incentives.
When it comes to the electronics industry, trade between Taiwan and India is [governed] by ITA or the information and technology agreement under the WTO. Tariffs would have increased had [WTO member countries] not reached an agreement on ITA 2. India is encouraging investment now. As long as we cooperate with Indian manufacturers, their government will offer subsides as high as 40%," said Chan.
ITA 2 refers to tariff removals in more than 200 high-tech products.
Source: Radio Taiwan International