Developments in Taiwan will not affect India: RBI governor

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Bombay:

Reserve Banking Governor Shaktikanta Das said on Friday that India is unlikely to be affected by negative developments in Taiwan.

The governor said Taiwan accounts for only 0.7 percent of India’s total trade and the island’s capital flows are not very high either.

This week, tensions between Taiwan and China have been heightened over the visit of US House Speaker Nancy Pelosi to the island which Beijing considers a breakaway province. A belligerent China has tested missiles and sent 100 warplanes and 10 warships for live-fire military exercises in the immediate vicinity of Taiwan.

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“… as far as India, you know, our trade with Taiwan is minuscule. It’s about 0.7 percent of our total trade. Therefore, the impact on India is expected to be very, very, very negligible,” said the Mr Das told reporters here.

He added that capital flows from Taiwan in terms of foreign direct investment (FDI) and other instruments are also very low.

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“So therefore India will not really be affected with regard to what is happening or likely to happen in Taiwan,” he said.

Asked about developments in Sri Lanka, Mr Das said that all discussions will be conducted by the governments.

The RBI only studies economic developments related to the impact on the Indian economy, he added.

(This story was not edited by The AU Times staff and was generated automatically Platforms.)

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