Taiwan looks for more business partnerships with India

Taiwan is looking for partnerships with India in various sectors, including electronics, renewable energy, medical devices and automobiles to expand bilateral trade volume.
Industry bodies for shipping, textiles and electronics from Taiwan today signed three separate agreements with their respective Indian counterparts to enhance co-operation between the two countries.
"We are now just focussing on these sectors to start our relationship with. Later, we hope to further this initiative by diversifying into renewable energy, medical devices, auto among others," Taiwan's Deputy Minister for Economic Affairs, Shih-Chao Cho told reporters here.
Expressing confidence that more such collaborations will follow, he said: "This is just a stepping stone for fostering our relationship between the two countries."

Taiwan Shipbuilding Industry Association (TSIA), Taiwan Textile Federation (TTF) and Taiwan Electrical and Electronic Manufacturers Association signed three MoUs with Shipyards Association of India (SAI), Confederation of Indian Textile Industry (CITI) and Electric Lamp and Component Manufacturers' Association (Elcoma) respectively.
The Taiwanese industrial bodies had also signed three MoUs with associations in Gujarat as a part of the Vibrant Gujarat Summit.

Cho also said Taiwan is looking for opportunities to partner Indian firms in the field of original brand manufacturing (OBM).
"We have a huge capability for manufacturing and India has good local brands and marketing potentials for its huge markets, we are definitely looking forward for something in this," he said.

Lauding Prime Minister Narendra Modi's 'Make In India' and 'Digital India' initiative, Cho said, "We can feel the determination of the Indian government to liberalise and de-regulate to bring in investments. This is a very good direction."
India and Taiwan's bilateral trade stood at USD 6 billion in 2013-14 fiscal compared to USD 7 billion in the previous fiscal.