Mumbai, 2 Dec (KNN) Taiwan is preparing to establish an economic and cultural center in Mumbai in next six months to facilitate collaborations between Taiwanese companies and small and medium enterprises (SMEs) in India.

This was announced by Baushuan Ger Amb., Representative, Taipei Economic and Cultural Center in India, while addressing an interactive meeting organized by World Trade Center Mumbai and was accompanied by a high-level delegation from Taiwan, said the media release.

In efforts to create a strong presence of Taiwanese companies in Mumbai with regards to investment, Ger said hence we need more technological collaborations that can benefit small and medium enterprises (SMEs).

He called upon the need to invest in entrepreneurship development through its universities, think tanks and student-exchange programs by enhancing bilateral engagement and people-to-people contact between the two countries.

The Indian counterpart, Dr. P. Anbalagan, CEO, Maharashtra Industrial Development Corporation (MIDC) welcomed the Taiwanese investors to India’s western state of Maharashtra, and assured them of earmarking a separate industrial park complex in Talegaon or Aurangabad or in any other suitable industrial zone in the state for them, said the release.

He also assured single window clearance for all the requisite permissions and cooperation needed by Taiwanese companies for conducting manufacturing activities in Maharashtra, as they have shown interest in undertaking such activities in the western state.

Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai said, “Trade between India and Taiwan can grow multi-fold from the current about USD 6 billion as Taiwan assures competitively priced and good quality products. Taiwanese companies can also set up manufacturing activities in Maharashtra / India and use India as a hub for exporting to neighbouring countries.”

Dr. Kalantri further remarked, “We invite Taiwanese companies to partner with Indian businesses through joint ventures, technology transfers and setting up of manufacturing capacities. The Indian government is investor-friendly, and the laws are pro-business.”

He assured operational support to Taiwanese companies willing to open offices in Maharashtra and invited Taiwanese delegations to enhance commercial ties between the two countries.