Taipei-India's top envoy to Taipei said Wednesday that Taiwan's New Southbound Policy has a logical strategy that complements India's regional foreign policy of prioritizing connections with its East Asia neighbors.
Sridharan Madhusudhanan, director general of the India-Taipei Association, said in an exclusive interview with CNA that while Taiwan is seeking to enhance ties with countries in South Asia, India is looking east.
By boosting links with countries in South Asia, including India, Taiwan is hoping to achieve sustained economic growth and to transform its economic model, with a focus on innovation and original branding, he said. "On the Indian side, we have launched the Act East Policy, to increase our connections with the region," Madhusudhanan said.
The Act East Policy, launched in 2014 under the leadership of Indian Prime Minister Narendra Modi, prioritizes India's relations with its East Asian neighbors, Madhusudhanan said.
The India and Taiwan policies, therefore, are linked by complementary logic, Madhusudhanan said,
He said India can contribute to Taiwan's New Southbound Policy, which is aimed at strengthening ties with ASEAN member nations, South Asian countries, Australia and New Zealand.
India is the fastest growing large economy in the world, with a GDP growth of more than 7 percent, he said.
It also has a population of 1.3 billion, a young workforce with an average age of 29 years, and a series of flagship programs such as "Make in India" and "Digital India" that were introduced under Modi's leadership, the envoy said.
"India is inviting credible partners with capital, capability and cutting-edge technology to join in this growth," Madhusudhanan said.
In fact, a huge number of Taiwan corporations have already invested in India, in areas that include information and communication technology, medical devices, automobile components, machinery, steel, electronics, construction, engineering, and financial services, he said. The envoy said he hoped to see increased Taiwanese investment in India in the next few years, under the strategy of the New Southbound Policy.
The India-Taipei Association represents Indian interests in Taiwan in the absence of official diplomatic ties.
Source: Focus Taiwan News Channel