New Delhi: Visiting Taiwan's Deputy Economic Minister Chen Chern-chyi has expressed his country's intent to "deeply engage" with India and support the "Make in India" policy. The minister also mentioned a "possible Free Trade Agreement" with India.

"India can be the best production place for us. India's policy of Make-in-India is fully in line with my government's policy ... Our companies will rely on horizontal collaborations (with Indian companies)," said minister Chen on Thursday.

The minister Chen is currently on an India visit participated in the 2022 India-Taiwan Industrial Collaboration Summit jointly held by Federation of Indian Chambers of Commerce & Industry (FICCI) and Taiwan's Chinese National Federation of Industries (CNFI).

The annual summit is hosted alternately by the two countries.

The Taiwan minister also highlighted his government's "New Southbound Policy" with emphasis on India.

"We work with local partners ...We are heavily dependent on the Indian government to help us invest here," he said, adding that India will be given priority in Taiwan's 'New Southbound Policy'.

India Taiwan Relations have gathered unprecedented momentum in recent years. Taipei has also tried to reach out to New Delhi. In 2020, India and Taiwan commemorated the Silver Jubilee (25th diplomatic anniversary) of the establishment of the India-Taipei Association (ITA) and Taipei Economic and Cultural Centre (TECC).

There is scope for convergence between the Indian government's Act East policy, which advocates closer economic, strategic, and diplomatic engagement with countries in the Indo-Pacific, and Taiwan's New Southbound Policy, which seeks to enhance cooperation and exchange between Taiwan and 18 countries in Southeast Asia, South Asia, and Australasia (Australia, New Zealand and some neighbouring islands in the Pacific Ocean).

Both policies aim to increase regional influence and gain political and economic benefits from their partners in the region.

Earlier, India's representative to Taiwan, Gaurangalal Das said, "great opportunities ahead for India-Taiwan" in the business domain at FICCI's India -Taiwan Industrial Collaboration Summit.

Meanwhile, Taiwan's Foreign Ministry has decided to host Diwali Celebrations later today. Foreign Minister Joseph Wu and Legislator Madam YC Wu, President of the Taiwan-India Friendly Association of Taiwan Parliament will be present at the celebrations.

In addition to the summit, Chen also attended a CEO roundtable forum which saw participation from Taiwan's government and industrial groups. Among the topics covered were electronics manufacturing, electric vehicles, batteries, and electronics/information and communications technology development, according to Taiwan's representative office as cited by Focus Taiwan.