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Taiwan machine tools exports to India in the upward trend 2015

Taiwan’s machine tools exports to India have grown by 11.6 per cent in the first two quarters of 2015, while the overall bilateral trade between the two countries reached $2.108 billion in the first five months. Taiwanese exports to India contributed $1.28 billion, while imports from India touched $828 million. “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 wide range of industries, including aerospace, automobiles, computers, energy, agriculture, medical equipment as well as precision mold,” said Lee, Guann-Jyh, Director of the Taipei Economic and Cultural Center in India, Economic Division. Taiwan now has become more and more increasingly keen on investing in India. At present, there are more than 80 Taiwanese companies in India. Many Taiwanese companies have successfully expanded their businesses in the field of electronics, machinery, food, automobile, components, and textiles. “Establishing good economic and trade relationships with India has always been the goal of Taiwan. We are optimistic that India’s future economic growth will be stronger considering its 1.2 billion population and the demand driven by its young and growing middle class. The huge, upcoming public-private sector infrastructure projects is expected to drive growth further. No doubt, the Indian market holds enormous potential for Taiwanese in the coming years.