Wednesday, December 03, 2014: Taiwan is making some significant moves in global electronics sector but till now they were not very serious about India. But now things are changing slowly. Now Taiwanese electronics goods suppliers are acknowledging market potential in India and entering all sectors in the country, with focus on automobiles.
A recent statement by Taipei Economic and Cultural Center in India (TECCI) mentioned that future cooperation between the two countries look quite promising as India’s auto market holds huge potential for Taiwanese auto parts manufacturing companies. The Make In India programme by Narendra Modi led government has attracted several countries including Taiwan and in the month of September they sent a delegation of 21 exporters and investors from auto parts and automobile electronics manufacturing sector to India. According to Amb Chung Kwang Tien, representative of TECCI, Modi’s Make In India campaign will boost Indi’a industrial growth a lot as worldwide manufacturers are looking forward to invest in India now. Tien also added that Taiwanese auto parts and automobile electronics component makers are sincerely looking forward to explore business opportunities in India.
Taiwanese tyre major Kenda Tires grabbed a huge order from Hero MotoCorp to supply 120,000 tyres a month in India. Now it’s learnt that after their tie-ups with Bajaj Auto and Hero, they are eyeing Yamaha Motor and Honda Motorcycle & Scooter India for more supply deals. Kenda is one of the major tyre manufacturers in Taiwan and their manufacturing units range across Taiwan, China and Vietnam. They produce tyres for two- wheelers and light motor vehicles including passenger cars and SUVs. Another company, Fuyung Carbon, is also interested in the Indian auto sector. Another Taiwanese diesel engine component maker Benlivan Co Ltd is also negotiating with various companies in India. Sheng Teng Electron International (STEI) is also considering to supply their sensor products to various Tier 1s in India.
