Taiwan machine tool exports to India surges over 11%
August 28, 2015 5:43 am
Trade between India and Taiwan is increasing rapidly with Taiwan’s machine tools exports to India growing by 11.6 per cent in the first two quarters of this year between January and June, said Taiwan External Trade Development Council (TAITRA). “The overall Taiwan–India bilateral trade touching $ 2.108 billion in the first five months of 2015. Taiwanese exports to India contributed $ 1.28 billion while imports from India touched $ 828 million,” it said.
“There is a clear cut synergy between the needs of the Indian manufacturing sector and the special characteristics of the Taiwanese machine tool industry. As the world’s fourth largest exporter of machine tools and component, machine tools in Taiwan can offer products to a broad range of industries, including aerospace, automobiles, computers, energy, medical equipment as well as precision mould. The strengths of Taiwanese machine tools products include excellent quality, reasonable prices, integration and constant innovation, and continuous value addition. In the future, we truly expect Taiwanese products to help speed up India’s manufacturing energy and make a significant contribution to the Make in India initiative,” said Lee Guann-Jyh, Director of the Taipei Economic and Cultural Centre in India, Economic Division.
Taiwan now has become increasingly keen on investing in India. At present there are more than 80 Taiwanese companies in India. Many Taiwanese companies have successfully expanded their business in the fields of electronics, machinery, food and textiles.