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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

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

: 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, 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 Taiwan and India in the post-pandemic era. We are looking to double Taiwan's investment in Tamil Nadu 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, Taiwan 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 Tamil Nadu 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.