Wednesday 30 January 2008

TN may be Taiwan's biz destination choice

Taiwan investors and manufacturers would look at Tamil Nadu as a business destination in the near future as a way to de-risk the country's external trade and investment, according to Dr Chi Su, leader of a Legislator delegation from Taiwan and member of the KMT political party, Taiwan.

         Speaking at a meeting held by the South Indian Chamber of Commerce and Industry, he said that with the political climate between Taiwan and China being uncertain, it was important for Taiwan to look at other options without `looking over the shoulder to see if the big man is watching'.

         Dr Steve Hsieh, Director, Department of Technology and Economy, National Policy Foundation, Taiwan, corroborated saying that 80 per cent of Taiwan's investment in foreign countries was in China. He said that from India's point of view, the best option would be to adopt the `cluster' method - attract the flagship brands in manufacturing and the ancillary supply chain would come automatically. Mr Shaktikanta Das, Tamil Nadu Industries Secretary, said stable political climate in India made it a favourable destination for investors and industries.

         The quality of manpower in Tamil Nadu, with 250 engineering colleges producing 80,000 engineering graduates every year, as well as the quality of physical infrastructure made the State an even more favourable destination, he said.