Issue: 0765 | Tuesday, September 18, 2007

India expands as economic power

September 12, 2007

Countries like Taiwan and Japan are making a point to further their economic involvement with India. This follows their concern on China’s rapid economic and military expansion. Taiwan’s Council for Economic Planning and Development (CEPD) has established new goals for economic relations with India mainly in the fields of construction, finance, and transportation, making it one of Taiwan’s top ten trade partners by the year 2015.

The next step will be for Taiwan to increase its technological and academic exchanges with India as well as bilateral cooperation in the above-mentioned sectors. The Japan Forum on International Relations urged the government to take further steps to promote free trade talks and private-sector exchanges with India. According to the Forum, “Unless Japanese companies do likewise, they risk remaining the only ones not leveraging India’s IT expertise, and could end up losing international competitiveness.” In light of all the attention it has received, India is starting to show signs of confidence, and a desire to step out of China’s shadow.

 


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