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Thursday, 17 May, 2018, 23 : 13 PM [IST]

Taiwan to look for stronger B2B engagement in India in varied sectors

First Taiwan Expo 2018 begins in Delhi
East Asian republic of Taiwan will look at enhanced business to business and trade engagements with India in varied sectors. With this objective to bring businesses from both sides closer and build mutual understanding Taiwan is organising Taiwan Expo 2018 in New Delhi, which got underway at Pragati Maidan today at the aegis of Taiwan External Trade Development Council (TAITRA). 

More than 130 Taiwanese businesses are exhibiting their products and solutions in eight dedicated pavilions to showcase Taiwanese expertise in the field of Agriculture and Food, Electric Vehicle/auto parts, ICT & Green Products, Medical Devices and Health and Personal care, Smart City and Tourism at the 3-day show. 

Talking about Taiwan Expo 2018 and at its objectives, James CF Huang, Chairman, TAITRA said that India has already become a “economic super power” of the 21st century and “no country can ignore” to engage India. He said that primary objective of the Expo is to establish business to business contacts and build mutual understanding. 

 Commenting on the bilateral trade between India and Taiwan, Huang said that the trade volume between the two countries have been on a growth trajectory in recent years. From US$ 5 billion in 2016, the bilateral trade has grown over 25% between the two countries in 2017 to reach 6.3 billion US dollars, he said. “We are confident of further momentum in coming years,” he added.

He said that the Expo has a great focus on Electric Vehicles, Smart City, Green Technology, Healthcare, etc. in line with the current focus of India government. “Taiwanese Companies are keen to forge relationships in the form of Joint Ventures and Technical collaborations with Indian companies. This is just the beginning of establishing closer cooperation between businesses of two countries,” he informed. 

When asked about tourism exchanges between Taiwan and India, TAITRA Chairman said that around 33,000 Indian tourists visited Taiwan last year, which is too less compared to the potential. Similarly, he said that 65% of Taiwanese population is Buddhist and they look at India with lot of interest for pilgrimage. “The young Taiwanese like India a lot,” he said. 

 Talking about the connectivity, he said that there is scope for more direct flights between India and Taipei. Currently China Airlines connect Taipei and Delhi with two frequencies a week. “This is inadequate,” he said.

Taiwanese investments in India currently is about US$350 million.
 
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