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MOTORINDIA
l
August 2012
Taiwan keen on better ties with
Indian auto component firms
This was stated in an exclusive
interview to MOTORINDIA by
Mr. Reyming Tu, Deputy Execu-
tive Director, Exhibition Depart-
ment, Taipei World Trade Center,
on the sidelines of the roadshow on
EMMA Expo India 2012 organised
jointly by TAITRA in Chennai.
Considering the vast poten-
tial available in India, Taiwan is
keener than its rivals in the field
to strengthen its relationship with
the Indian auto component majors.
Since the Taiwanese market is not
that big, the country is eager to ex-
port more of its output to India. In
2011, the vehicle output in Taiwan
hit a historic high of $20.3 billion, a
10 per cent increase over the previ-
ous year.
The auto parts industry contrib-
uted products worth $7.54 billion,
of which a huge 82 per cent was ex-
ported. International competitive-
ness is driven by its flexibility and
readiness to invest in R&D
and new technology.
He said that, with its
strengths in ICT, Taiwan has
won acclaim for its innova-
tive machinery development.
Ready service and competi-
tive prices offer added value
and increased the export vol-
ume. Of the overall export of
machinery products, machine tools
topped the list in 2011 with 35.1 per
cent growth over 2010. Plastics &
rubber producing machinery came
second with a 14.4 per cent growth,
and bearings, gears & ball screws
ranked third, with their combined
exports amounting to $21.1 billion.
Taiwanese companies also make
special efforts to cut energy con-
sumption and reduce carbon emis-
sions. Though India offers a big
market, many Taiwanese firms are
not able to have any proper access
nor suitable partnership with the
right Indian partners. If this issue is
sorted out satisfactorily, there will
be scope to widen the relationship
between India and Taiwan in the
years ahead.
w
auto industry
By R. Natarajan, Managing Editor & Publisher
Taiwan is among the fastest growing na-
tions in the Asian region, with its strong
auto components sector. With a popula-
tion of just 22 million, the country ex-
ports 60 per cent of its auto components
production to different countries, includ-
ing the US and China.
Mr. Reyming Tu, Deputy Executive Di-
rector, Exhibition Department, Taipei
World Trade Center
With India proving a very important
market for Taiwan, there is a win-win
situation for both, particularly if the
FTA agreement materialises. Further,
with the establishment of more banks
and financial institutions in India, Tai-
wanese companies can benefit a lot.