Taiwanese firms willing to explore Indian market

Taiwanese firms willing to explore Indian market

Taiwanese technology companies are exploring business opportunities in India.

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 11 to May 13.

Yang said that the population of India is huge and provides lot of opportunities for Taiwanese firms. There are around 80 Taiwanese companies already present in the country that includes Acer, Asus, Foxconn and HTC.

Taiwanese companies can collaborate with their Indian counterparts and look at other neighbouring countries such as Asean," he added.

The total FDI in India surged by 24.5 percent to $44.9 billion during the financial year 2015, as compared to $ 36 billion in the previous year, according to Department of Industrial Policy and Promotion (DIPP).

Indo-Taiwan trade relations have improved gradually in the past decade. Trade between the countries stood at $5.91 billion in 2014, compared to around $2 billion in 2004. Investment from Taiwan to India totalled $66.46 million between 2004 and 2014.

The Dollar Business Bureau - May 11, 2016 12:00 IST