Taiwan plans to relax visa norms for Indian investors

Written by Sanjay Jog | Mumbai | Updated: Feb 11 2009, 05:52am hrs
Close on the heels of USAs move to restrict H-1B visas, Taiwan proposes to fully relax visa norms to attract Indian investors, industries, traders and procurers of inputs.

Indians holding US, Canada , Europe and Japan visas will be free to visit Taiwan, announced Wenchyi Ong, representative of Taipei Economic and Cultural Centre in New Delhi.

Ong said the necessary announcement in this regard will be made soon. Taiwan has roped in an Indian tour operator, STIC, to offer various packages to Indians. Besides, Taiwan will encourage in a big way, the investment of Taiwanse companies in India, by shifting their base from China. As of now we have held talks with Gujarat, Maharashtra and Bihar in this regard. We also want to increase the presence of Taiwanese companies in Tamil Nadu. The cumulative investment of Taiwanese companies in China, since 1980s, is around $300 billion. However, due to the recent Chinese norms on environment protection and pollution-control, tightening of labour laws and changes in the policy of export tax refund, Taiwanese companies are shifting their base. We expect India to be the best destination for investment. The cumulative investment of Taiwanese companies so far is a paltry $1.5 billion till the end of 2008 and we expect that with the proposed move, an investment of at least $15 billion can be proposed in india . He added Taiwanese investments will mainly be directed at infrastructure, manufacturing, electronics, agriculture and a host of other sectors.

Ong told FE , The investment by Taiwanese companies will help increase FDI flow in India and it will also create new job opportunities.

He, however, noted that the hiked cost of land and bureaucratic delays are major roadblocks. Ong also noted that Taiwanese Toys Manufacturing Association has been asked to export high quality toys to India. Besides, Ong said the Tatas have been asked to set up a hotel on the lines of the Taj Mahal in Taiwan and to source high end electronic goods and products from Taiwan for its electronic megastores, Croma, in India.