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Industry Associations
CII team to woo Taiwan investors
Our Bureau
New Delhi
,
Sept. 14
A Confederation of Indian Industry (CII) delegation will visit Taiwan to project India as an attractive investment destination. The 11-member delegation will focus on exploring vast potential in the telecom, information technology, machinery and food-processing sectors as part of the `Invest India' initiative from September 15 to 17, according to a CII statement.
Taiwan has the third largest foreign exchange reserves — $229 billion as on May 31, 2004. Exports from India have been rising steadily and stood at $471.56 million in 2002-03 from $417.87 million in 2001-02. Imports from Taiwan to India touched $690.7 million in 2002-03.
India is poised to have the largest telecom network in the next five to seven years, and there is tremendous potential for joint ventures in this sector with Taiwan, the CII said. The delegation is led by the CEO of Spice Communications, Mr Dilip Modi.
Similarly, the delegation will also present food processing as another sector, where there could be possible cooperation between India and Taiwan. The numbers in this sector are vast, with a domestic market of 300 million consumers expected to grow 200 million more by 2010. In the dairy industry for example, where India is the largest milk producer, only 15 per cent of the production of milk is processed.
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