Half of 120 participating Taiwanese Cos at Taiwan Expo are first timers in India

NEW DELHI: Conceding the fact that India is on its way of fast becoming a regional manufacturing hub aiming to influence supply chain in the near future, top Taiwanese tech giants are on their way to India seeking collaborations with Indian stakeholders. About 50% of the 120 Taiwanese companies participating in the upcoming Taiwan Expo 2024 in New Delhi are coming to India for the first time.

“As many as 60 Taiwanese companies of the total 120 are participating in the Taiwan Expo in India 2024 are the first timers. These companies major in drone, ICT, EVs etc include Ahamani EV, TAIWAN UAV, Delta Electronics, Micro-Star International (MSI), others,” Keven Cheng, Deputy Executive Director, Taiwan External Trade Development Council (TAITRA) told Asian Community News (ACN) Network on the sideline of the pre-expo press conference in New Delhi on Thursday.

The participating 120 Taiwanese companies are 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.

Chang said the 7th edition of the Taiwan Expo 2024, organized by the International Trade Administration, Ministry of Economic Affairs (TITA) and TAITRA, is scheduled to take place from July 8 – 10, 2024, at Bharat Mandapam (Pragati Maidan) (Hall No. 2). After a five-year hiatus, this highly anticipated event marks its grand return, drawing significant attention from both Taiwanese and Indian stakeholders.

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.

Due to India becoming a regional manufacturing hub, the effectiveness of supply chain relocation to this area is significant. From January to May 2024, the highest export from Taiwan to India was in chips, amounting to $1.18 billion, a growth rate of 49.4%, accounting for more than 36% of Taiwan’s total exports to India ($3.23 billion). During the same period, Taiwan’s global export growth rate increased by 9.1% compared to the previous year, while exports to India surged against the trend (+28.1%) with double-digit growth.

The pre-expo press conference was attended by Gaurav Vats, Director East Asia, North America, Federation of Indian Chambers of Commerce & Industry (FICCI), Rajoo Goel, Secretary-General, Electronic Industries Association of India (ELCINA), and Rakesh Chandra Sharma, I.A.S. General Manager (BDD), India Trade Promotion Organisation (ITPO). Ms. CHEN Yu-Chi, Executive Director, Economic Division, TECC, also participated, making the event a bustling hub of international interaction.

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. Along with supply chain shifts, have positioned India as a regional manufacturing hub. 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.

The press conference featured a sneak preview of products from selected exhibitors, offering an exclusive pre-exhibition display. Highlighted products included Gigabyte Technology’s latest AI gaming laptops, MSI’s cutting-edge AI gaming laptops, and AVer Information’s flagship camera VB350. Also showcased were Ares Monitor Arm by Modernsolid Industrial, professional medical-grade support products by Grace Care International, protein hair creams by SHAAN HONQ, and a variety of health-conscious foods and beverages by TSAN YU YEN Food and Shian Yuan International. These showcases highlighted Taiwan’s excellence across AI, healthcare, beauty, and food industries.