Taiwan and Indian mutually establish representative office in 1995 to gradually develop both parties’ economic and trade relationship, making trade volume and investment volume grow up year by year; bilateral trade is only US$ 1.2 billion in 2000 and reaches US$ 7.564 billion in 2011, the peak in the recent 10 years. According to statistical data from Taipei Economic and Cultural Center in India, there’re 70 investment set points in India established by Taiwan businessmen with investment amount US$1.2 billion as at April, 2013. Investment industries include information communication technology, machinery, trading, carbon black, transportation, engineering, metal, shoemaking, agriculture and fishing, in which information communication technology is the primary one. In recent years, rapid economic growth in India attracts global investment with huge domestic demands. India establishes close links of commercial relation worldwide after its economic reform and opening-up, which Taiwan enterprises are naturally not absent in this trend.
Based on the aforesaid consideration and conception, Mr. Huang, Theodore, board director of “Chinese National Association of Industry and Commerce” and “India-Taipei Association” and president of TECO Group, who has lots of international affairs to be responsible for objectives of a dedicated organization. After coordination and negotiation for a year, Taiwan India Business Association (“TIBA”) supported by business leaders and instructed by government competent authorities was established in Taipei on December 21, 2012. Afterwards, “India-Taipei Association” was integrated through actively promotion of Mr. Huang, Theodore, the first board director to develop TIBA on middle September, 2013.
India-Taipei Association under expectation and support of industry-governmental and -academy circles was established on Feb.11, 2005 and integrated with Taiwan India Business Association to become a survival unit as TIBA. The current board director Mr. Huang, Theodore, president of TECO Group and honorary board director of “India-Taipei Association” aims at “enhancing Taiwan’s understanding of Indian economy, society, culture and other relevant fields to promote people’s communication and cooperation between Taiwan and India” for the following two objectives: (1) assist Taiwan public/private institutions, groups or individuals to handle organizational communication and cooperation relating to Indian economy, society, culture and other relevant fields; (2) cooperate with Taiwan public/private institutions, groups or individuals to handle research and knowledge management business relating to Indian economy, society, culture and other relevant fields.