Advertisment

Taiwan sees huge market potential in India

author-image
DQW Bureau
New Update





Advertisment

For the third time, Taitronics India 2009, an international trade exhibition,

was held from Sep 11-13, Sep 2009 at Chennai Trade Center. The event was jointly

organized by the Taipei World Trade Center Company (TWTC), an affiliate of

Taiwan External Trade Development Council Taiwan Electrical and Electronic

Manufacturers' Association, in partnership with Government of Tamil Nadu and

Confederation of Indian Industry.

According to a report by Federation of Indian Chambers of Commerce and

Industry, India-Taiwan trade reached $5.3 billion in 2008, a nine percent

increase from the previous year.

Wenchyi Ong, a representative from Taipei Economic and Cultural Center in New

Delhi informed, “We have three offices in India that work hand-in-hand to

improve economic ties with India by boosting trade and strengthen the business

relationship.”

Advertisment

Pointing out the $110 million investment made by Foxconn in India, he noted

that the total investment by Taiwan in a small country like Malyasia is $90

billion, while the investment in India is just 1.2 percent of investment made in

Malaysia. "All these indicate that there is huge potential in the Indian

market," Ong mentioned.

Chun-Fang Hsu, Deputy DG-Bureau of Foreign Trade, Ministry of Economic

Affairs said, “Bilateral relationship between Taiwan and India has improved

significantly since 1990. Both the governments have launched efforts to

significantly expand the trade and investment in the field of IT, energy,

telecommunications, and electronics. In 2008, the trade was valued at


$5.34 billion, an increase of 9.5 percent over the previous year. Every year,

our government invests a significant amount of money to help the companies build

their own brand and improve the industry's quality.”

The event will host 180 exhibitors in 240 booths, more than double from last

year's 111 booths. Few key participants in the event include, Asus Tek, BenQ and

KYE, which owns the Genius brand.

Advertisment

Taiwanese companies make nearly three quarters of world's personal computers

and about half of“the world's liquid crystal displays. In recent years, many of

these companies have em


erged from contract manufacturing to build their own brands.

Taiwan's exports to India have grown steadily in recent years, and in 2008,

it rose by more than 27 percent to $3.2 billion from $2.5 billion in 2007, based

on information from Taiwan's Directorate General of Customs.

Taiwanese companies make nearky three quarters of world PCs and about half of

the world's liquid crystal displays.

Advertisment