Taiwanese firms are planning to set up manufacturing facilities in Gujarat and export products to Middle Eastern, African and European countries
Maulik Bhansali, Chairman, Gujarat Electronics and Software Industries Association (GESIA), has informed that technology companies of Taiwan have expressed their interest in setting up manufacturing facilities in Gujarat. The Taiwanese are specifically interested in the IT, electronics and Internet of Things (IoT) segments, he added.
Local companies to sign MoU
Local technology firms from Gujarat and Taiwan will be signing a Memorandum of Understanding (MoU) at the upcoming Vibrant Gujarat Summit that is scheduled for a two-day event from January 18-19, 2019. The Chairman said that the companies are looking at serving the local markets with a higher IoT demand and then exporting from the planned electronics cluster to countries in the Middle East, Europe and Africa.
Tejinder Oberoi, Director, Secretary, GESIA says that the Taiwanese firms own a lot of IoT products and they want to invest in India’s rapidly growing market.
GESIA’s IT growth
GESIA represents nearly 400 technology companies in Gujarat that is growing at 48 per cent year-on-year. It employs around 3.5 lakh people and experts are of the opinion that with the increase in digitisation of manufacturing sectors, it will require another 5,000 jobs in the next three years. According to Bhansali, the investment in Gujarat’s IT sector stood at Rs. 700 crore which rose to Rs. 36,000 crore in 2016-17.
GESIA is also partnering with academic institutions to solve problems of the clients. It is also setting up help-desks for Intellectual Property (IP), Human Resources and legal matters, where IT companies from Gujarat can seek solutions and enable their companies to grow faster.