Mr. Chen, Yi-Chang, General Manager of CHK SEALING TECHNOLOGY CO., LTD. (left), part of the Taiwan delegation, receiving felicitations from Dr. Vijay Kalantri, President of All India Association of Industries (AIAI) and Chairman of MVIRDC World Trade Center Mumbai.
(From left to right): Mr. Poyi Edison Hsu, Director of TAITRA Mumbai; Capt. Somesh Batra, Vice Chairman of MVIRDC WTC Mumbai; Mr. Chen, Yi-Chang, General Manager of CHK SEALING TECHNOLOGY CO., LTD.; Dr. Vijay Kalantri, President of AIAI and Chairman of MVIRDC WTC Mumbai; Mr. Peter Huang, Specialist of South Asia section in the Market Development Department of Taiwan External Trade Development Council; Capt. Ramesh Gulati, Member of Council of Management at MVIRDC WTC Mumbai; Ms. Rupa Naik, Executive Director at MVIRDC WTC Mumbai.
Dr. Vijay Kalantri, President of AIAI and Chairman of MVIRDC WTC Mumbai, receiving a felicitation award from Mr Chen, Yi-Chang, General Manager of CHK SEALING TECHNOLOGY CO., LTD., with other distinguished individuals in the picture: Mr. Poyi Edison Hsu, Director of TAITRA Mumbai; Capt. Somesh Batra, Vice Chairman of MVIRDC WTC Mumbai; and Mr. Peter Huang, Specialist of the South Asia section in the Market Development Department of the Taiwan External Trade Development Council.
The India-Taiwan economic partnership has been rapidly growing in recent years, as both countries recognize the immense potential for collaboration in various industries. Taiwan’s ‘New Southbound Policy’ has identified India as a key partner, leading to increased efforts to enhance bilateral economic cooperation. With the signing of a migration agreement allowing Indian workers to be employed in Taiwanese industries, the foundation for a strong economic relationship has been set.
High-Level Business Delegation from Taiwan
The All India Association of Industries (AIAI) and MVIRDC World Trade Center Mumbai recently hosted an interactive meeting with a High-Level Business Delegation from Taiwan. Mr. Peter Huang, South Asia Specialist at the Taiwan External Trade Development Council’s Market Development Department, led the delegation. Mr. Huang expressed Taiwan’s interest in strengthening commercial and investment connections with India, highlighting the untapped opportunities in various sectors such as electronics, auto-components, machinery, food processing, and medical equipment.
Mutual Commitment to Growth
Dr. Vijay Kalantri, President of AIAI and Chairman of MVIRDC World Trade Center Mumbai, emphasised the pivotal moment in India-Taiwan economic relations. He pointed out the recent
award of the Padma Bhushan to the CEO of Foxconn, Mr. Young Liu, as a sign of the deepening bond between the two countries. Dr. Kalantri advocated boosting bilateral trade to USD 25 billion, emphasising investment and technology collaboration. He suggested that Taiwanese companies invest in India and boost imports from India to balance the current trade deficit.
Facilitating Commercial Partnerships
AIAI and WTC Mumbai have been proactive in fostering trade delegations to Taiwan, with a focus on sectors like agriculture, water, and electronics. Dr. Kalantri expressed the commitment to continue facilitating commercial partnerships in key industries such as electronics and shipbuilding. He also stressed the importance of enhancing people-to-people contact by improving flight connectivity between India and Taiwan.
Joint Opportunities and Collaborations
The Taiwanese business delegation, representing various sectors including auto-components, medical devices, electronics, and processed food, engaged in fruitful discussions with Indian counterparts. B2B meetings were held to explore potential joint ventures, investments, technology exchanges, and trade opportunities between the two countries. Mr. Chen, Yi-Chang, as General Manager of CHK SEALING TECHNOLOGY CO., LTD., emphasised the advantages of collaboration during his participation in the Taiwanese delegation.
In conclusion, the economic partnership between India and Taiwan is poised for significant growth, driven by mutual interests and a commitment to deepening ties across various industries. With proactive efforts from both sides to foster collaboration, the future holds promising opportunities for joint ventures, investments, and technology exchanges. India-Taiwan economic relations are on a trajectory of success, with a potential for continued expansion and prosperity in the years to come.