You are here: Home » Economy & Policy » News
Business Standard

Taiwan eyes doubling investments in Tamil Nadu, says official

Taiwan is eyeing to double the investments made by its companies in Tamil Nadu and is looking at generating one million new jobs in the Indian state

Taiwan | Tamil Nadu | Investment

Press Trust of India  |  Chennai 

Investors may be losing interest in PSU stocks as they reassess feasibility

: is eyeing to double the

investments made by its companies in and is looking at generating one million new jobs in the Indian state, a top official of Taipei Economic and Cultural Centre said on Thursday.

The move to further strengthen the ties between the two nations is the Taiwan's new South-bound policy which encourages more of its companies to invest in South India, director-general of Taipei Economic and Cultural Central Ben Wang said here.

"It makes sense to further develop and strengthen the mutually beneficial relationship between and India in the post-pandemic era. We are looking to double Taiwan's in and create one million jobs," he said.

Wang said the theme of Taiwan's National Day celebration was 'Recover and Prosper Together.'

By August-end, had donated 54.4 million medical masks and other critical supplies to over eight countries, including India with one million masks, he said in a press release.

Taiwan has more than 20 companies which have invested an estimated USD 1.7 billion in Tamil Nadu, he said.

Principal secretary of industries department N Muruganandham said Taiwan companies have shown keen interest for plug and play facilities, information technology, blockchain and cyber security.

Taiwan would like to engage with like-minded partners to develop new supply chains based on shared values reinforcing its new South-bound policy, Wang said.

The economic cooperation between the two countries is to be continued and cherished, he added.

The Taipei Economic and Cultural Centre in Chennai represents the interests of Taiwan in the southern states of India.

(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.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 08 2020. 21:26 IST