Ministry of External Affairs (MEA) Official Spokesperson Arindam Bagchi on Thursday said the Indian government’s policy on Taiwan is clear and consistent, and the government facilitates, and promotes interactions in areas of trade, investment, tourism, culture, education, and other such people to people contacts and exchanges. The MEA official spokesperson was responding to a question on Taiwan opening the Taipei Economic and Cultural Centre in Mumbai.

“Our policy on Taiwan is clear and consistent. The government facilitates and promotes interactions in areas of trade, investment, tourism, culture, education, and other such people-to-people contacts and exchanges. The opening of the Taipei Economic and Cultural Centre in Mumbai should be seen in that context,” Bagchi said during the MEA Weekly Briefing on Thursday. Taiwan will be establishing the ‘Taipei Economic and Cultural Center in Mumbai to expand mutually beneficial trade and investment opportunities between Taipei and New Delhi.

“In recent years, cooperation between Taiwan and India has witnessed significant progress in numerous domains, including economics and trade, science and technology, critical supply chains, culture, education, and traditional medicine. In light of this development, the Taiwan government will establish the Taipei Economic and Cultural Center (TECC) in Mumbai in order to further deepen exchanges and cooperation between the two countries,” the Ministry of Foreign Affairs, Taiwan stated. In 2012, TECC was set up in Chennai, after which nearly 60 percent of all Taiwanese businesses investing and opening factories in India have chosen to develop their operations in southern India.

The investments made by Taiwanese manufacturing industries have also benefitted Chennai and its surrounding areas. The establishment of the TECC in Mumbai is expected to have a similar effect in Western India, the release stated. “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. Mumbai is the largest city in India, serving as the country’s financial center and boasting its largest port. Many countries have established consulates in Mumbai, including the United States, Japan, the United Kingdom, and Australia,” the Ministry added in the release.

Source ANI