Taiwan and India have signed two Memorandums of Understanding (MOUs) on bilateral cooperation in business, and information and communication technology. Vice economics minister, Shen Jong-chin, and secretary of India's Department of Industrial Policy & Promotion, Amitabh Kant signed the MOU’s in New Delhi on Thursday.
Shen said he hopes that the two MOUs will help develop small and medium sized enterprises in both countries.
The MOU on information and communication technology is aimed at building bilateral cooperation in the areas of networking, industry intelligence, and the construction of smart cities.
The two sides discussed the possibility of Taiwanese companies constructing an industrial park in India and a potential bilateral agreement on investment protection. Shen said that these developments would encourage more Taiwanese companies to invest in India.