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Posted on Oct 06, 10:48AM | IBNS
To facilitate bilateral trade relations and possible business tie-ups with Taiwan, the Indian Chambers of Commerce (ICC) Friday organized a day-long interaction for the Indian business houses with Taiwan External Trade Development Council Delegation here.
The delegation was accompanied by 26 Taiwan business enterprises exhibiting their products and holding business meets individually with the interested representatives here.
"The purpose of this programme is to expose the Indian businessmen to the possible tie-ups in the field of information technology, machinery parts, electronics, food processing to even cosmetics," informed Committee Member, ICC, Nayantara Pal Chowdhury.
She said that India has become the target market for Taiwan since 90 percent of the Taiwanese companies are SMEs which is similar to Indian economic scenario.
"Cost of labour incentive industries is very cheap in India so are the toys, textiles and sports products. While Taiwan has better technologies, the Taiwanese industries could help the Indian factories in manufacturing and setting up new plants in place of the old, dilapidated ones," said Senior Manager, Market Development Department, Taipei World Trade Center, Chie-Yien Huang.
According to him, the Taiwanese technologies and machinery parts are similar to that of the European products but in much lower prices and better after sale services like Asus and Kemak, which are already operative in India.
Speaking on the potentiality of Indian market, Huang said,"India has natural resources specially in the East and human resources like IT professionals and software engineers but we don't have natural resources and therefore we have to import."
"Our objective is to provide a bridge between East India and Taiwan. We are about to open TAITRA office here for better information exchanges along with the hope that more and more Taiwanese companies come here," he added.