In the year 2006, the bilateral trade between India and Taiwan stood at $2.71 and now, Taiwan is looking to expand its operations in India. The Tamil Nadu Government is looking to setup a 200-acre Special Economic Zone to attract investments from Taiwanese firms touted to be at a tune of a whopping 500 million dollars.

Inorder to expedite the whole process of setting up a business, a single window mehanism was introduced. This will simplify the clearances required. Another significant step in the right direction is the setting up of a direct flight between Chennai and Taipei. There are already several Taiwanese firms operating in Chennai and the 500 million dollar investment is the mere beginning of what the bright future of investment in Tamil Nadu beckons.

The Taiwan External Trade Development Council, which had an overseas Indian office in Mumbai, is opening one in Chennai to shepherd investors in industries as diverse as electronics and pharmaceuticals to textiles and food processing.

Lets hope that more countries find India as a favorable business destination. This will ensure that too much dependency on the slowing US economy is not there and that gainful employment opportunities are present for more and more Indians.