May 17, 2014
No. 099
Following India’s 16th general election on May 12, India’s Election Commission announced the results on the evening of May 16. The Bharatiya Janata Party won the majority of seats, with Narendra Modi to head the new administration as Prime Minister. The election process went smoothly and peacefully, bearing testimony to the democratic quality and vitality of the people of India. The government of the Republic of China promptly extended its congratulations through the Taipei Economic and Cultural Center in India to the government and people of India. Due to the successful completion of the election and Modi’s leadership role in his party’s victory, he will assume his new position in the near future. Taiwan and India are expected to continue to strengthen bilateral economic, trade and cultural relations based on their long-term friendship, creating a win-win situation for both sides.
In recent years, the amicable relations between Taiwan and India have brought about closer cooperation in a wide variety of areas, including economy, trade, education, technology, and culture. In 2013, bilateral trade reached US$6.1 billion. To date, over 90 Taiwan enterprises have placed investments in India, primarily in the industries of information and communication technology, shipping, construction, shoe-manufacturing, and automobile parts and accessories.
In July 2011, Taiwan and India signed agreements on the avoidance of double taxation and on customs cooperation. In March 2013 the two sides signed an agreement on ATA Carnets and its protocol. Such instruments will help deepen the substantive economic and trade relations between Taiwan and India. (E)