Taiwan Expo 2024: Reviving Trade Ties With India Through Innovation And Collaboration
More than 120 companies will showcase over 1,000 products at the expo, with significant participation from the Taipei Computer Association, Taiwan Textile Federation, and New Taipei City Government.
After a gap of five years, Taiwan Expo 2024 is set to make its grand comeback. The event will be held from July 8 to 10 at Hall No. 2 of Bharat Mandapam (Pragati Maidan). The event is being organized by the International Trade Administration, Ministry of Economic Affairs (TITA), and Taiwan External Trade Development Council (TAITRA) with the aim to strengthen business ties between Taiwan and India and provide opportunities for economic growth and investment.
Taiwan's exports to India saw significant growth between January and May 2024, with chip exports leading the way at $1.18 billion, marking a 49.4% increase. This sector alone represents over 36% of Taiwan's total exports to India, reaching $3.23 billion. During the same period, Taiwan's global export growth rate was 9.1%, while exports to India grew 28.1%, reflecting strong double-digit growth.
India's initiatives such as 'Make in India', 'Digital India', 'Green India', and 'Smart Cities' have transformed the country into a regional manufacturing hub, offering numerous growth opportunities. Reflecting these trends, Taiwan Expo 2024 will focus on five key themes: Smart Lifestyle, Smart Cities, Smart Manufacturing, Green Innovation, and Wellness Fiesta.
The pre-expo press conference was attended by nearly 50 media outlets, with key personalities including Mr. Gaurav Vats from FICCI, Mr. Raju Goyal from ELCINA, and Mr. Rakesh Chandra Sharma from ITPO. Executive Director of the Economic Department, TECC, Mrs. Chen Yu-chi, also attended and emphasized the international significance of the event.
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Kevin Cheng, Deputy Executive Director of TAITRA, reported that total trade volume between Taiwan and India grew by 25.8% between January and May 2024, making India Taiwan's 14th largest trading partner. This growth highlights the potential for further economic cooperation, particularly in electronics manufacturing and smart cities.
More than 120 companies will showcase over 1,000 products at the expo, with significant participation from the Taipei Computer Association, Taiwan Textile Federation, and New Taipei City Government. Attendees will have the chance to explore Taiwanese excellence in the AI, healthcare, beauty, and food industries, providing a comprehensive view of Taiwan's diverse offerings.
