Taiwan, India business groups sign 3 MOUs

New Delhi, Nov. 4 (CNA) Business groups in Taiwan and India on Thursday signed three memorandums of understanding to forge closer cooperation in electronics manufacturing and green technologies.

The three agreements were inked at the 2022 India-Taiwan Industrial Collaboration Summit jointly held by Taiwan’s Chinese National Federation of Industries (CNFI) and India’s Federation of Indian Chambers of Commerce & Industry (FICCI) in India.

One MOU was signed by Taiwanese memory chipmaker Adata Technology and the Electronic Industries Association of India (ELCINA), and another by Taiwanese precious metal recycling specialist UWin Nanotech. Co. and India’s Srikaarya Industries.

The third was signed by the Taiwan Environmental Manufacturers Association, Taiwan’s China Productivity Center, Industrial Technology Research Institute, and Water Affairs Organization, and India’s International Centre for Clean Water and Steady-taps Consulting.

The signing ceremony was witnessed by Taiwan’s Deputy Economics Minister Chen Chern-chyi (陳正祺), who is heading a Taiwanese delegation currently visiting India.

At the ceremony, Chen said over 90 percent of Taiwan’s enterprises are small and medium-sized companies with paid-in capital of no more than NT$100 million (US$3.10 million) or fewer than 200 regular employees, but they often have excellent technologies.

When they extend their reach overseas, they have been eager to work with their foreign counterparts to grow, Chen said, and he urged India’s government to lend support to these Taiwanese companies that invest there.

Welcoming investment from Taiwan, Anurag Jain, secretary of India’s Department for Promotion of Industry and Internal Trade, said India has sought to simplify its investment application procedure by setting up a one-stop service window.

Jain said the initiative will reduce the investment application process to three days, with the ultimate goal being to cut the process to one day.

In addition to the summit, Chen also attended a CEO roundtable forum where representatives of Taiwan’s government and industrial groups joined with Indian attendees to discuss a wide range of topics.

Among the topics covered were electronics manufacturing, electric vehicles, batteries, and electronics/information and communications technology development, according to Taiwan’s representative office.

Chen is scheduled to return to Taiwan Friday night.