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Developments in Taiwan will not impact India, says RBI Governor Das

The Governor said Taiwan accounts for only 0.7 per cent of India's overall trade and the capital flows from the island are also not very high.

Topics
Taiwan | Indian Economy | China

Press Trust of India  |  Mumbai 

RBI Governor Shaktikanta Das
RBI Governor Shaktikanta Das (Photo: Bloomberg)

Reserve Bank Governor on Friday said India is unlikely to be impacted by any adverse developments in .

The Governor said accounts for only 0.7 per cent of India's overall trade and the capital flows from the island are also not very high.

This week witnessed rising tensions between and China, triggered by US House Speaker Nancy Pelosi's visit to the island nation which Beijing views as a breakaway province. A belligerent has tested missiles and sent 100 warplanes and 10 warships for live-fire military drills in the close vicinity of Taiwan.

"...so far as India is concerned, you know, our trade with Taiwan is miniscule. It's about 0.7 per cent of our total trade. So therefore the impact on India is expected to be very, very, very negligible," Das told reporters here.

He added that capital flows from Taiwan in terms of foreign direct investment (FDI) and other instruments are also very low.

"So, therefore India is not really going to be impacted with regard to what's happening or what is likely to happen in Taiwan," he said.

Quizzed about the developments in Sri Lanka, Das said any discussions will be done by the governments.

The only studies the economic developments with regard to the ramification on the Indian economy, he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, August 05 2022. 18:36 IST
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