Shih Yen-shiang, Deputy Economic Minister of Taiwan, told the ninth meeting of the India-Taiwan Business Cooperation Committee that the two governments had decided to support efforts to boost technology cooperation.

"India and Taiwan have agreed to create a free and open trade and investment environment to maximise the fruits of our cooperation. That way, we can both be assured of bigger gains and heightened economic prosperity," said Shih.

The minister said that in keeping with the spirit of this "constructive cooperation" Taiwan, which only established a representative office in India in 1995, would now fast track visa applications from India.

"We warmly welcome Indian companies to invest in Taiwan and will do everything to help you get here. We will also encourage our own businesses to expand and explore India's potential," Shih told the business meeting.

Taiwanese firms have invested 115 million dollars in India after it launched sweeping free-market reforms in 1991.

Shih added Taiwan was among top three countries in the world in manufacturing 25 high-end products which included IT hardware and notebooks to liquid crystal devices and it hoped to "pool ideas" with Indian software designers to maintain that technology edge.

"Taiwan has gradually transformed itself from a technology imitator to a technology innovator. India's growing software industry's real strengths in research and development have also earned it an excellent reputation in the global IT industry," said Shih.

"India has a very large, excellent software design workforce and Bangalore has become one of the world's most famous software centres. There will be plenty of opportunities for cooperation between the industries of the two countries."

India's booming software industry grew 26.3 percent to 9.5 billion dollars in the year to March -- narrowly missing the 30 percent growth target set for the period.

India also has the largest pool of English-speaking IT professionals after the United States. This army, willing to work for one-eighth of the salaries of their counterparts in the United States and Europe, has fuelled the software boom in India.

Bilateral trade between India and Taiwan has jumped from 400 million dollars in 1991 to 1.2 billion dollars in 2002.

SPACE.WIRE