Chennai, August 9: India's current share of imports from Taiwan is only about 0.5 per cent and there is vast scope for improvement, the South India Chamber of Commerce and Industry (SICCI) said today.

The small and medium enterprises of the two countries should establish links in training, besides technical collaboration, SICCI technology committee chairman Arun said during a meeting with a high power Taiwanese delegation, which is on a 10-day visit to India.

Dr Chi Su, leader of the Taiwanese delegation said that cultural exchanges had to begin between the two countries, which will complement trade and investment.

On the concerns expressed by the delegation with regard to investing in Tamil Nadu, state Industries Secretary Shaktikanta Das said the rate structure and taxation would stabilise after implementation of VAT next year.

He said the state government was planning to execute an elevated corridor project and a metro rail project besides creating satellite towns to address infrastructural bottlenecks.

"We are making progress from software to hardware. We propose to take a delegation to Taiwan soon," he added. (Our Correspondent)