"On Taiwan's National Day, October 10, the country is venturing into new horizons by forging stronger economic partnerships and boosting bilateral trade with India. Compared to the modest $2 billion recorded in 2006, the current trade volume between these nations has surged to over $7 billion and continues to rise. In an exclusive interview with Financial Express Online, James C F Huang, Chairman of the Taiwan External Trade Development Council, emphasized that Taiwan's focus extends beyond expanding trade; it is increasingly dedicated to fostering supply chain collaboration and aligning itself with India as it strives to become a significant global economic powerhouse.
Huang pointed out that the evolving geopolitical landscape is likely to enhance industrial cooperation, with Taiwan being a suitable partner for India, particularly in the realm of technology. He expressed utmost confidence in India's potential to emerge as an economic superpower in the 21st century and assured that Taiwan stands ready to be its partner, emphasizing the increasing importance of supply chain cooperation in this partnership."
"Supply chain collaboration stands out as a primary catalyst for unlocking economic synergies between the island nation and India. The country actively seeks partnerships in areas where it excels. James C F Huang elaborated, "We can also explore collaboration in technology and smart solutions, particularly in green energy, smart cities, echoing the major themes of our exposition this year, which revolve around Smart City solutions, smart manufacturing solutions, smart medical solutions, smart agriculture, and cutting-edge technology." He further emphasized their active pursuit of partnerships in these domains.
Huang underscored that the current trade volume of $7.15 billion between India and Taiwan represents a substantial increase compared to previous years. However, he emphasized that investment and supply chain cooperation hold even greater significance. He noted, "Due to shifting geopolitics, the global supply chain is undergoing restructuring, positioning India uniquely within the global supply chain."
During his recent visit to Mumbai for the Taiwan Expo, a three-day event with the theme 'Explore Taiwan in India,' showcasing top-tier products across key categories such as Smart Manufacturing, Smart City, Smart Medical, Smart Agriculture, Smart Lifestyle, and EV, Huang remarked, "The partnership between Taiwan and India is ideally positioned to become a future leader in the world's technology manufacturing industries. Together, Taiwan and India can redefine industry standards and emerge as a leading force in the global digital future."
