Taiwan’s machine tools exports to India have grown by 11.6 per cent in the first two quarters of 2015 (January-June), while the overall bilateral trade between the countries touched $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 broad range of industries, including aerospace, automobiles, computers, energy, 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 increasingly keen on investing in India. At present, there are more than 80 Taiwanese companies in India. Many Taiwanese companies have successfully expanded their business in the field of electronics, machinery, food 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 given its 1.2 billion population and the demand driven by its young and aspirational 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 companies,” Lee added.