The Hindu Business Line : Taiwan’s machinery industry seeks tie-ups with Indian SMEs

Corporate - Alliances & Joint Ventures
Industry & Economy - SSI
States - Andhra Pradesh
Taiwan’s machinery industry seeks tie-ups with Indian SMEs

Our Bureau

Hyderabad, Aug. 27 Taiwan is looking for collaboration with Indian machinery industry especiallysmall and medium enterprises .

“We have over 3,000 SMEs in the machinery industry and we see good potential for collaboration with Indian counterparts here,” Mr John Chen, Director, Taiwan Association of Machinery Industry (YAMI), told participants at an interactive meet organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) here.

The trade between Taiwan and India stood at about $2.4 billion in the last fiscal year and is growing at 15 per cent per annum. “Our industry has been showing considerable interest in various machinery trade fairs held in India from time to time. The SMEs in both the countries benefit by linking the machinery development and application processes,” he said.

Industries like paper-making and converting, electro-dynamic vibration systems, metal-cutting, metal-forming and machine tools were of particular interest to TAMI members, he added.

Mr Shiv Kumar Rungta, Chairman of Foreign Trade Committee, FAPCCI said absence of diplomatic relations between Taiwan and India was preventing more trade between the two countries. Mr Atluri Subba Rao, President, FAPCCI, said India could serve as a source for Taiwan in agricultural products, metals, ores, dyes, cotton yarn, engineering parts, drugs and fine chemicals and readymade garments, among others.

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