Taiwan and India explore partnership for Smart & Green India of Tomorrow
Taiwan External Trade Development Council (TAITRA) launched the Taiwan Product Centre (TPC) in India with the aim to surtpol0pport its business ties and expand its market presence in India. Apart from enabling business interaction with Indian companies, TPC has also scaled up its state-of-the-art products and technology offering across their Centres in Delhi, Chennai, and Mumbai.
The pandemic-induced economic and social crisis has brought the two democracies, Taiwan and India closer through trade and economic ties. In fact, the trade relations between India and Taiwan have grown exponentially over the past five years majorly because both countries find close synergy to shift, transform and lead supply chains, be it ‘Make in India’ initiative, for Aatmanirbhar Bharat or the new south-bound policy in action for Taiwan. Taiwanese companies want to take advantage of this trade relation and business opportunities, for setting up operations in the country.
Speaking about Taiwan Product Centre, Mr. Welber Wang, Manager, Taipei World Trade Center – Mumbai said, “The pandemic period was a real testing time for economies and trade relations across the globe. We are happy that there is a rejuvenated and stronger bilateral connection between India and Taiwan. India is working towards creating a green economy, powered by clean energy and also becoming a global manufacturing hub. We are open to continuing our support and providing the required impetus to help both countries achieve their national goals.”
The TPC Product Centers display a wide array of products from reputed Taiwan companies and thus is a strategic avenue for consumers to experience the latest innovative offerings across various industrial segments, all under one roof. Some of the key companies include Acon Optics Communication Inc, Goldencrops Corporation, Labelmen International, all in TPC Chennai.WhileTPC Mumbai has Acewell International Co. Ltd, Advanced Connectek(a subsidiary of ACON group), and Magtech Magnetic. TPC Delhi has Bestak Self-Adhesives Inc., A-Tech System Co. Ltd, Rice Ear (LUFTQI), and Comeup Industries Inc.
These companies are optimistic about India because of the market diversity, large consumer base, and huge supply-demand in B2B space which will be supported by key initiatives like the 5G rollout, increasing internet penetration into smaller markets, and faster adoption of technology innovations like AI, ML and the industrial transformation from labor-intensive toward automation.
Taiwan is one of the leading business hubs in Asia and over the last decade, the island nation has become a powerhouse of technology and innovation.