Taiwan firms across industrial sectors are eyeing joint ventures in India to capitalise on the emerging opportunities in a buoyant economy, a senior Taiwanese trade representative said Thursday.
"Many of our top firms are exploring joint ventures in India to tap the huge potential for industrial products spanning electronics, machinery, moulds, automobile components and accessories," Taiwan World Trade Centre (TWTC) executive vice-president Walter Yeh told reporters at the eighth edition of the Emma Expo here.
As the majority of Taiwan firms are unfamiliar with India and business opportunities in the country, the Taipei-based non-profit organisation (TWTC) has brought about 200 companies to showcase their products and services across industrial sectors at the three-day expo being held at the Bangalore International Exhibition Centre (BIEC) on the city's outskirts.
"Through this Electronic, Machinery, Moulds &Auto Parts (EMMA) expo, our firms are offering $24 million worth of business opportunities as against $12.4 million worth of business generated at its previous (seventh) edition in Chennai in 2013," Walter said on the occasion.
Though about 150 Taiwan companies, including HTC and Asus are doing business in India by exporting their electronic and industrial products, many of them are keen to set up manufacturing units in states like Andhra Pradesh, Gujarat, Karnataka, Maharashtra and Tamil Nadu.
A few areas of interest are electronics, medical equipment, auto components and industrial accessories.
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"As hubs of learning, our countries cherish education that drives innovation and generates business and wealth. Nine of our leading educational institutions, including Academia Sinica, National Tsing Hua University and Kaohsiung Medical University are participating at the expo for collaborations with their Indian counterparts," Walter asserted.
Sponsored by the Taiwan government and industry, the trade centre assists Taiwan businesses and manufacturers to reinforce their international competitiveness and cope with challenges in overseas markets.
A 26-member delegation of leading Taiwanese firms and institutions has also visited the expo to interact with Indian industrial associations to explore partnerships.
Union Fertilisers and Chemicals Minister Ananth Kumar opened the expo along with the India Manufacturing Show being held at the same venue concurrently to showcase the Indian industry spanning aerospace, industrial engineering, infrastructure, metallurgy and mining products.
Among the leading Taiwan firms participating in the expo are Hu Lane Associate to showcase its automotive connectors and terminals, Tongtai group, well-known for its equipment, instruments and tools, CoreTech System, which provides plastic injection moulding simulation solution, Cub Elecparts, an electric and electronic parts maker, Litmex Electronics, which makes LCD products, Rhymbebus Corporation, an inverter maker and Karma Medical Products, makers of multi-purpose chairs and mobility aid devices.