Taiwan and India sign 6 new industry cooperation MOUs
Taiwan and India signed six new business cooperation deals at their annual industry forum, good news for Taiwanese exporters looking to grow outside China.
- The deals cover security cameras, digital video and networking gear, and recycling technology, and are expected to generate over NT$1 billion in new business.
- Trade between the two countries hit $12.5 billion last year, up 18%, and jumped 56% in the first seven months of this year.
- Taiwan's economy ministry is pushing companies into India's electronics supply chain, green tech, and electric vehicle parts.
- The forum in Bangalore drew over 200 people from business, government, and universities, and has produced 34 deals over its ten years.
Outlook: Taiwan-India trade looks set to keep hitting record highs as more Taiwanese firms move into the Indian market.