Taiwanese investment to touch $4 bln by 2010

New Delhi, Sept 4 (UNI) Taiwanese investment in India has the potential to grow ten-fold and touch four billion dollars by 2010 from the current 400 million dollars, according to Director of TVS Group on Entrepreneurship Gopal Srinivasan.

''Taiwanese entrepreneurs recognize India as a powerful economic opportunity. While the larger Taiwanese companies are beginning to make their presence in India, it is the SMEs in Taiwan that needed handholding,'' said Mr Srinivasan who is leading a CII Business Delegation to Taiwan.

To boost the business transactions and investments into India from Taiwan, industry body CII has identified four areas/issues that need to be addressed/resolved.

This includes double taxation avoidance treaty, mutual recognition of technical degrees, better air connectivity with leading metros in India and a hassle-free issuance of work permits/employment visas for Indian professional to Taiwan.

The delegation called on several influential trade promotion agencies and leading business houses such as Bureau of International Cultural and Education Relations, Bureau of Civil Aviation, TICC, TAITRA, Delta Electronics, TSMC, UMC and Asustek Computer.

''The companies have evinced keen interest in business opportunities and propositions that were highlighted during the presentations made in areas such as IT hardware, Semiconductors, Textiles, Machinery, leather and footwear etc,'' said Mr Srinivasan.

UNI