Taiwan eyeing for more business partnerships with India

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January 14, 2015: Taiwan is looking to build more partnerships with India in various fields including electronics, renewable energy, automobiles and medical equipments. The country is exploring options to expand bilateral trade ties between the two countries.

Taiwanese industrial bodies for electronics, shipping and textiles have signed three MoUs with their respective Indian counterparts to boost cooperation between the two nations.

Speaking at Vibrant Gujarat Summit, Shih-Chao Cho, deputy minister for economic affairs, Taiwan, told reporters that currently Taiwan is focusing in building partnerships on these sectors and later focus will be shifted to other areas as well. He expressed his confidence that many more partnerships will be built in future with India in diverse areas and this is merely a stepping stone in fostering relations with the country.

Taiwan Shipbuilding Industry Association (TSIA), Taiwan Textile Federation (TTF) and Taiwan Electrical and Electronic Manufacturers Association have signed three memorandum of understandings with Electric Lamp and Component Manufacturers’ Association (Elcoma), Shipyards Association of India (SAI) and Confederation of Indian Textile Industry (CITI), respectively.

All the three MoUs were signed by Taiwanese organisations at Vibrant Gujarat Summit concluded recently.

Shih-Chao Cho also said that Taiwan is exploring more opportunities to partner with Indian companies in the area of original brand manufacturing (OBM).

Adding to his comments, Shih-Chao Cho said that Taiwan has a big manufacturing capacity and India has decent local brands and marketing strengths for its markets, Taiwan is surely looking in this field too.

He also praised prime minster Narendra Modi for his ‘Make in India’ and ‘Digital India’ initiative. He added that the determination and seriousness if the India government could be felt for achieving liberalisation and deregulation to foster investments in the country. He further added that the country is going in a very good direction.