Tech firms SoftBank, Foxconn come together for a joint venture
The Dollar Business Bureau Japanese multinational SoftBank Group Corp and Taiwanese electronics major Foxconn Technology Group, earlier Hon Hai Precision Industry Co Ltd, said on Friday that they would together launch a joint venture, strengthening ties between Asia's two biggest technology companies. This move will provide Foxconn 54.5% stake in one of SoftBank's existing subsidiaries for about $600 million. This comes as the two groups increase investments in the technology segment and considering expansion in the US. As per the arrangement of the joint venture, a subsidiary of Foxconn will invest nearly $600 million in lieu of a majority holding in SoftBank Group’s arm, Capital Apac Pte Ltd. This arrangement will effectively transform what had been a fully-owned subsidiary of Softbank into a joint venture, the companies revealed in a statement. Softbank and ...
Lumax Industries opens design centre in Taiwan
The Dollar Business Bureau India’s automotive lighting solutions company Lumax Industries Limited has opened its state-of-the-art design centre in Taiwan to boost its design competencies. The new centre was inaugurated by D K Jain, the Group Chairman of Lumax Industries. This is a strategic move towards the self-reliant initiatives of the company and will enable the company to offer at competitive designing cost. The new centre is a testimony to its healthy business partnership ties with Taiwan over a period of 36 years. The centre would act as a springboard for the company in running businesses with Japan, South Korea and Mainland China in the coming years. Taiwan provides various benefits to the company that include strategic location, wide supply chain network, industrial ...
Taiwanese firms willing to explore Indian market
The Dollar Business Bureau Technology companies from Taiwan are optimistic about the Indian market, specifically the Smart City project and are exploring business opportunities in the country. Speaking at an event in New Delhi on Tuesday, Scott Yang, Deputy Executive Director, Taiwan External Trade Development Council, said that FDI in India has increased considerably over the past two years, which is grabbing the attention of companies across the globe. Several companies from Taiwan shared brief presentations about their products at the event. “The Government of India’s Smart City project offers huge opportunity for collaboration between Taiwan and India," he added. To explore business opportunity in India, around 47 Taiwanese companies have been participating in the 2nd Smart Cities India 2016 Expo, which is from May ...
Taiwan institute ties up with Indian electronic industry to promote ICT
The Electronic Industries Association of India (ELCINA) entered into an agreement with TaiwansInstitute for Information Industry on Monday The Dollar Business Bureau Electronic Industries Association of India (ELCINA) and Taiwans Institute for Information Industry (III) officials at the signing of MoU to promote the use of Information and Communication Technologiesp> In a move to boost countrys capability in electronics manufacturing, the Electronic Industries Association of India (ELCINA) has entered into an agreement with TaiwansInstitute for Information Industry (III) to promote the use of Information and Communication Technologies (ICT) for mutual benefits. On Monday, an agreement was signed between Vikram Desai, President, ELCINA and Jin-Fu Chang, Chairman, III, in the presence of Amitabh Kant, Secretary, Department of Industrial Policy and Promotion among others. ELCINA and ...
