Indian Business

As India continues to pursue calibrated globalization and expand external linkages, this is an opportune time to economically engage Taiwan. It is an economy with a GDP of over US$300 billion and a per capita income of US$14,000. Taiwan is an integral and vital part of the globalized world, with particular strengths in manufacturing by small and medium enterprises, which accounts more than 90 per cent of its exports. In 2004, its merchandise exports were US$182 billion (2 percent of the world total, ranked 15th), while its merchandise imports were US$168 billion (1.8 percent of the world total, ranked 15th). In 2004, Taiwan ranked 24th in exports (worth US$26billion) and 20th in imports (worth US$30billion) in commercial services. It ranks in top five economies in foreign exchange reserves (US$255 billion). Its stock market capitalization is about US$450 billion.