In recent years, bilateral collaboration between Taiwan and India has not only boosted economic growth but also helped both countries to be attractive destinations for investment and development.
The Taiwan Expo is one of the key initiatives that play an important role in creating a platform that facilitates bilateral trade relations between the two countries. The 7th edition of the Taiwan Expo 2024, organized by the International Trade Administration (TITA), Ministry of Economic Affairs (MOEA), and the Taiwan External Trade Development Council (TAITRA), is set to take place from July 8-10, 2024, at Bharat Mandapam, New Delhi. This event aims to enhance trade relations between Taiwan and India, with 120 Taiwanese companies participating, matching pre-COVID levels.
“India has emerged as a new regional manufacturing hub, attracting more Taiwanese companies to explore opportunities here. We see a significant shift in the semiconductor supply chain to India,” said Keven Cheng, Deputy Executive Director of TAITRA while speaking during a recent event in New Delhi discussing the upcoming expo.
Recently, India’s TATA Electronics joined hands with Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) for the upcoming $11 billion AI enabled semiconductor fabrication plant in Dholera, Gujarat.
India, the world’s fifth-largest economy and most populous country boasts a vast consumer market and abundant workforce. Initiatives like ‘Make in India’ ‘Digital India’ ‘Green India’ and ‘Smart City’ have stimulated many growth opportunities in the domestic market. Reflecting these trends, the Taiwan Expo 2024 will focus on five key themes: Smart Lifestyle, Smart City, Smart Manufacturing, Green Innovations, and Wellness Fiesta, showcase Taiwan’s latest technologies and solutions, offering exhibitors and visitors a closer look and deeper experiential interaction with the diverse product portfolio.
“From January to May 2024, the total trade volume between Taiwan and India grew by 25.8% compared to the same period last year, making India our 14th largest trade partner. This significant growth underscores the immense potential for Taiwan-India economic cooperation, particularly in electronics manufacturing, smart cities, and ICT sectors. The Taiwan Expo aims to further consolidate and grow business opportunities by showcasing the latest products and solutions curated based on the most recent government policies, local market demands, and consumption trends. We hope to continue to build the best stage that promotes bilateral trade relations between both countries,” said Cheng.
Taiwan Expo in India 2024 will feature over 120 companies showcasing more than 1000 products from Taiwan. Notably, the two major associations in Taiwan, the Taipei Computer Association (TCA) and the Taiwan Textile Federation (TTF), and New Taipei City Government, the most populous city in Taiwan and home to the highest number of registered companies, is set to participate in the Taiwan Expo. Indian attendees will have an excellent opportunity to explore and connect with Taiwan’s diverse range of offerings at the expo.