India-Taiwan Trade Relations Gain Momentum in 2018

MUMBAI, February 28, 2018 /PRNewswire/ --

COMPUTEX 2018 expected to attract more Indian visitors in Taipei  

SMART ASIA India 2018 to be held in Bangalore in October   

India has emerged as an attractive target market for many Taiwanese companies-the result of its booming economy supported by demographic dividend and growing infrastructure that has recently been emphasizing on smart cities. Propelled by the Taiwanese government's New Southbound Policy whereby India is a prominent focus, bilateral trade between the two countries reached US$6 billion in 2017, marking a 28% year-on-year increase. India currently houses some 104 Taiwanese firms which have established business operations across the country, and this trend is set to increase over the coming years. India's demand for development and Taiwan's willingness to share its expertise have led the two nations to become strategically complementary, a fact that is being leveraged for mutual progress and benefit. This is an initiative by the Taiwan External Trade Development Council (TAITRA).

The Taiwan External Trade Development Council (TAITRA) is leading this growth and maintaining economic trade relations with the South Asian country. TAITRA is the foremost non-profit trade promotion organization in Taiwan, actively assisting Taiwanese businesses and manufacturers in exploring trade and investment opportunities in India. It also analyses the Indian market in order to help Taiwanese brands seek long-term partnerships with their Indian counterparts. Recently, TAITRA is involved in an investment plan in which the state-run oil company CPC Corp. Taiwan is looking to start a petrochemical park in Mundra SEZ, Gujarat, a project estimated at US$567 million in the initial phase.

Commenting on the significant progress of bilateral relations, TAITRA's Mr. James Kuo, Deputy Executive Director of Exhibition Department, TAITRA pointed out that, "2017 was a year of success in terms of mutual trade and this number will reach US$10 billion within a couple of years. Over the same year, India made a total of 427 investments in Taiwan valued at US$57.17 million, investing in various fields including: information & communication, wholesale & retail, manufacturing, science & technology and more. We are very happy to see trade relations developing along these lines between the two sides. Taiwan is keen to offer its technological and manufacturing proficiency to help India tackle its development challenges."

TAITRA has planned year-round activities in India this year to promote closer cooperation. Activities include meetings between government officials, trade delegations, industry seminars, and B2B trade shows like COMPUTEX and SMART ASIA India. Such events serve as a common platform for Taiwanese enterprises and Indian stakeholders to discuss and embrace opportunities for various joint business possibilities and for strengthening trade relations. COMPUTEX and SMART ASIA India are a face for Taiwanese industries in India, and medium for further collaboration.

COMPUTEX is a leading global B2B ICT/IoT and start-up exhibition. Based upon Taiwan's complete ICT clusters, COMPUTEX covers the whole spectrum of the ICT industry. The show will be held in Taipei, June 5-9, 2018 and will showcase products of six themes, namely AI & Robotics, 5G, Blockchain, IoT, Innovations & Start-ups, and Gaming & VR. Considering the broad nature of the event, COMPUTEX is expecting a growth of more than 20% in Indian visitors this year. COMPUTEX will also be making its presence at Convergence 2018 in Delhi, March 7-9, displaying the winning products of the COMPUTEX d&i Awards, serving to further tap into the Indian market.

SMART ASIA 2017 partnered with trade bodies such as AIAI, AIEMA, and WTC Bangalore, facilitating an outstanding response from approximately 1400 professional visitors from Karnataka, Maharashtra and Tamil Nadu. During the event, 50 world-class Taiwanese exhibitors presented innovative products and services in the fields of Smart Transportation, Smart Energy, Smart Water and IoT solutions. Following its resounding success, SMART ASIA India 2018 is anticipating to be larger in scale and attract more participants and visitors, as the expo looks toward contributing to the Modi government's ambitious Smart Cities Mission.

SMART ASIA India 2018 will be held in Bangalore, October 4-6, and will focus on three major themes: Smart City Solutions, Smart Technology Applications, and City Development Products & Services.  

About SMART ASIA 2018 India 

SMART ASIA India is a trade show focusing on smart tech and smart city trends and solutions. Organised by TAITRA, the show will take place October 4-6, 2018, at Bangalore International Exhibition Center (BIEC), India, and showcase Taiwan's cutting-edge smart technologies and products to a broad Indian audience. SMART ASIA India echoes the Modi government's "Smart Cities Mission", which aims to build 100 Smart Cities across India in order to improve citizens' quality of life and take the nation into a more advanced and technology-driven future. 

The first edition of the show was successfully held November 23-25, 2017, receiving vast recognition and active participation from India's professional visitors. Based on this success, SMART ASIA India will return to Bangalore in 2018 and seeks to continue its partnership with the Indian government as well as various stakeholders in the Smart Cities industry, and highlight Taiwan's capabilities in facilitating the Smart Cities vision. 

SMART ASIA India 2018 will focus on three main areas: Smart City Solutions, Smart Technology Applications, and City Development Products/Services. For more information, please visit the official website: http://www.SMARTASIA.com. 

About COMPUTEX 2018 

Established in 1981, COMPUTEX TAIPEI (called as COMPUTEX hereinafter) is the leading global ICT and IoT show with a complete supply chain and ecosystems. COMPUTEX, based upon Taiwan's complete ICT clusters, covers the whole spectrum of ICT industry, from established brands to startups and from ICT supply chain to IoT ecosystems. The mega event adopted a new position in 2016: Building Global Technology Ecosystems. 

The 38th edition of the show will take place from June 5 to 9, 2018. COMPUTEX 2018 will focus on six main themes: AI & Robotics, 5G, Blockchain, IoT, Innovations & Startups, Gaming & VR. Meanwhile, there will be four featured exhibit areas, including "SmarTEX" focusing on IoT applications, "InnoVEX" exclusively for international startups, "iStyle" for Apple MFi certified products and peripherals and "Gaming & VR" to accommodate the exhibitors. Please visit official website http://www.computextaipei.com.tw for more information. 

About TAITRA 

The organiser of COMPUTEX TAIPEI and SMART ASIA India is the Taiwan External Trade Development Council, TAITRA, the foremost non-profit trade promotion organisation in Taiwan. Founded in 1970, TAITRA assists Taiwanese businesses and manufacturers in strengthening their international competitiveness and dealing with challenges in foreign markets. 

TAITRA boasts a well-coordinated trade promotion and information network of over 1,200 trained specialists stationed throughout its Taipei headquarters, five local branch offices in Taoyuan, Hsinchu, Taichung, Tainan and Kaohsiung, and more than 60 overseas branch offices worldwide. Together with its sister organisations, Taiwan Trade Center (TTC) and Taipei World Trade Center (TWTC), TAITRA has created a wealth of trade opportunities through effective promotional strategies. In addition to organizing trade delegations and providing customised procurement services, TAITRA also hosts more than 40 international trade shows annually both in Taiwan and abroad. 

About Taipei World Trade Center: 

The TWTC was launched in January, 1986, by Taiwan's foremost trade promotion organisation, the Taiwan External Trade Development Council (TAITRA), to provide a single, modern venue that would combine exhibition space, conference facilities, offices, and hotel accommodation for international business. TWTC combines the gamut of services and brings together a vast consulting network for trade-related issues, trading partners, suppliers, and markets. 

Media Contact:
Hesha Parekh
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+91-9833113169
Senior Account Executive
Communicate India