Indian market has the potential to be the Next Growth frontier for Taiwan

 by Priya Jadhav

Taiwan Expo ’23 aims to be a platform that facilitates bilateral trade relations between two countries 

Mumbai, September 27, 2023: The much awaited, Taiwan Expo 2023 is gearing up for yet another stellar trade show in India, scheduled from October 5-7, 2023, at NESCO Exhibition Centre, Goregoan, Mumbai. This will be the 6^th edition of the Expo in India and more importantly it is back in its physical avatar, allowing exhibitors and visitors to have a closer look and deeper experiential interaction with the product portfolio. This year the Expo will have 6 themes, 7 pavilions on display across key categories like Smart Manufacturing, Smart City, Smart Agriculture, Smart Lifestyle and EV. Some of the highlight products that are being showcased at the Expo include, UAV from Ahamani EV Technology Co. Ltd, world’s first 5G Mixed reality glasses from Compal Electronics Inc, Hydrogen 2-3 wheels motorcycle from Chung Hsin Electric & Machinery Manufacturing Corporation and EV power system from Teco Electric and Machinery Co. Ltd., to name a few. 

There was a curtain raiser event to announce the Expo, which was attended by key dignitaries, Mr. Homer Chang, Director General, Taipei Economic and Cultural Centre (TECC) and Mr. Keven Cheng, Deputy Executive Director, Taiwan External Trade Development Council (TAITRA). Special invitees from India included Dr. Ravindra Kute, President, Maharashtra, Indian Medical Association (IMA) and Mr. Vikram Mathur, Executive Director, Business Network International (BNI), amongst other eminent personalities.  

Speaking at the event, K. J. Cheng, Deputy Executive Director from TAITRA said, “We are delighted to organize yet another edition of Taiwan Expo in India. The Expo will showcase the latest products and solutions curated based on the most recent government policies, local market demands and consumption trends. Furthermore, the expo will organize networking events, including One-on-one Business Match Meeting and a variety of stage events to encourage interactions between Taiwan and India businesses. We hope to continue to build a best stage that promote bilateral trade relations between both countries” 

Organized by Taiwan External Trade Development Council (TAITRA), Taiwan Expo is its flagship exhibition to fortify the ties between Taiwan and the ASEAN countries including India. Since its inception in 2017, Taiwan Expo has emerged as a leading platform for Taiwanese businesses to explore new opportunities, exchange ideas, and forge partnerships in ASEAN, South Asia, and North America. Thus, the Expo is credited to be the premier online sourcing hub in ASEAN countries and India. It is testament of Taiwan’s strong and long-term commitment in promoting bilateral trade relationship with India. 

According to the Taiwan government’s official data, India is its 16^th largest trading partner and 13^th largest export destination. It is interesting to note that the bilateral trade between India and Taiwan totaled $8.46 billion in 2022, representing an increase of 9.86% over 2021. 

In the recent years, India is building itself as a viable alternative hub within the global supply chain framework and the ongoing geopolitical and economic scenario provides synergy to both India and Taiwan with opportunities to navigate cooperation for achieving mutually beneficial commercial ties through stronger business bilateral relations.  

About Taiwan Expo: Since 2017, TAIWAN EXPO has emerged as a leading platform for Taiwanese businesses to explore new opportunities, exchange ideas, and forge partnerships in ASEAN. With its notable success, TAIWAN EXPO has been held 15 times, spanning 11 cities in seven countries, including India, Thailand, Indonesia, the Philippines, Vietnam, Malaysia and the USA.  

About TAITRA: Founded in 1970, TAITRA is Taiwan's foremost nonprofit trade promoting organization. Sponsored by the government and industry organizations, TAITRA assists enterprises to expand their global reach. Headquartered in Taipei, TAITRA has a team of 1,300 specialists and operates 5 local offices as well as 62 branches worldwide. Together with Taipei World Trade Center (TWTC) and Taiwan Trade Center (TTC), TAITRA has formed a global network dedicated to promoting world trade. TAITRA's five local branch offices in Taoyuan, Hsinchu, Taichung, Tainan, and Kaohsiung provide services to companies outside metropolitan Taipei. Through these domestic offices, TAITRA is able to maintain close contact and interaction with local companies in their respective areas and provide direct and substantial services in areas such as feature trade promotion, business information, market seminars, on-the-job training, procurement meeting, meeting room rental, etc. Branch offices play vital roles in Taiwan Trade Shows coordination between Taipei headquarter and local companies, and invite buyers to visit local industries.