Demand for business travel between Taiwan & India sees ups​wing

The growing trade relationship between Taiwan and India are helping to increase demand for business events and travel for both the countries. 

Taiwan is 16th largest trading partner of India presently. The bilateral trade stood at US$ 7 billion last year, an increase of 11 per cent over the previous year. As per Taiwan’s new Southbound policy, there is a renewed interest in the Indian market. At present, there are about 41,000 visitors from India to Taiwan.

“Our total international arrival number is 11 million. The number of tourist arrivals from India is less but growing. We are seeing a lot of demand for incentive travel,” said Dr. Trust Lin, Director-Taiwan Tourism Bureau, Singapore Office.

Hyundai took an incentive group of more than 400 pax to Taiwan in April while Asus took an incentive group of more than 350 pax in May this year.

“A lot of Indian companies are also participating in Taiwan for trade shows and expos like Computex. Delegates also stay in Taiwan for one or two nights post the expo. In fact a lot of companies participating in expos are later sending their incentive groups to Taiwan,” added Lin.

On the other hand a lot of Taiwanese companies are also participating in expos in India. Bureau of Foreign Trade (MOEA) and Taiwan External Trade Development Council (TAITRA), Taiwan’s foremost trade promotion body organized the second edition of ‘Taiwan Expo’ on May 16 to 18, 2019 at Pragati Maidan in New Delhi. 
The event is expected to further offer impetus to the growing trade ties between the two countries. Taiwan Expo 2019 recorded participation from 130 exhibitors showcasing their state-of-the-art products through 230 booths.

Taiwanese companies are expected to invest about US$ 500 million in India by the end of 2019. TAITRA is organising about 20 trade and investment promotion events in India in 2019. Thirty-six companies from Taiwan participated in Vibrant Gujarat summit in January 2019. It was one of the largest delegations at the investment event.

“The events that we organise in India have helped Indian participants to get educated about Taiwan and visit it later for business and leisure purpose. A lot of large Indian companies like Mahindra & Mahindra, TATA and many SMEs participate in events taking place in Taiwan. Shows related to food, electronics and automobiles are popular among Indian delegates,” concluded Walter Yeh, President of TAITRA.