New Delhi: Taiwan will establish the Taipei Economic and Cultural Center (TECC) in Mumbai to further deepen its relations with India, the Ministry of foreign affairs of China (Taiwan) said on Wednesday.
Since the TECC in Chennai was set up in 2012, nearly 60 per cent of all Taiwanese business investments as well as the opening of factories were taking place in southern India. Chennai and the adjoining areas were thus benefitting from the investments made by Taiwanese manufacturing companies. The establishment of the TECC in Mumbai is expected to have a similar effect in Western India.
Taiwan-India trade ties
India became the world’s fifth-largest economy in 2022 and the most populous nation this year. With enormous market and related business opportunities, India has been emerging as a major investment destination for global enterprises. Mumbai is the largest city and also serves as the country’s financial capital, besides having the largest seaport.
Recently, several countries have established consulates in Mumbai, including the United States, Japan, the United Kingdom, and Australia. The establishment of TECC in Mumbai will help expand mutually beneficial trade and investment opportunities between Taiwan and India. Under Taiwan’s new south-bound policy, it will also promote exchanges and cooperation in science and technology, education, culture, and people-to-people ties between Taiwan and Western India.
Furthermore, the TECC in Mumbai will provide visa services, document authentication, and emergency assistance to business people, tourists, and Taiwanese nationals in the states of Maharashtra, Goa, Gujarat, and Madhya Pradesh, as well as the union territory of Dadra and Nagar Haveli and Daman and Diu.
The TECC in Mumbai is also expected to work in close coordination with the TECC in Chennai to offer quality services to Taiwanese nationals and overseas compatriots.
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