Taipei Economic and Cultural Center to come up in Mumbai: Taiwan
Taipei Economic and Cultural Center (TECC) in India's financial capital Mumbai in sync with the broader aim of expanding overall cooperation between the two sides. Taiwan's decision to set up the TECC in Mumbai came at a time when leading Taiwanese companies are increasingly looking at relocating their production bases from China to India, the US and countries in Europe amid Taipei's increasingly tense relations with Beijing.
The relationship between China and Taiwan came under severe strain after US House Speaker Nancy Palosi's visit to the self-governed island in August last year. At present, Taiwan has TECCs in Delhi and Chennai and they have been playing an important role in expansion of two-way trade and investment relations.
The announcement on setting up of the TECC in Mumbai is seen as a major signal on part of both New Delhi and Taipei to ramp up the overall trajectory of ties. India is keen on having production facilities of leading Taiwanese companies, including chip producers such as Taiwan Semiconductor Manufacturing Corporation (TSMC), the world's largest chipmaker whose clients included Apple.
In a statement, the Taiwanese foreign ministry said the decision to set up the TECC in Mumbai was taken in view of «significant progress» witnessed in cooperation between India and Taiwan in areas of trade, critical supply chains, science and technology, culture, and education in recent years. In light of this development, the Taiwan government will establish the Taipei Economic and Cultural Center (TECC) in Mumbai in order to further deepen exchanges and cooperation between the two countries, it said.
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