Relationship between India and Taiwan has been warm and cordial. There are no formal diplomatic ties established between the two sides yet but there is a Cultural centre both in New Delhi and Taipei , which as of now is the Embassy equivalent. The two sides are now trying to expand in trade and business and deal with a common threat in the Asian markets-China. More than 100 Taiwanese companies have invested around US$1.5 billion in India, mostly in the IT, engineering, shipping, shoe manufacturing, finance, chemical, and service industries.
Bilateral trade reached $4.7 billion from January to September last year, an increase of over 40% compared to the same period the year before. India is now Taiwan's 18th-largest trade partner. In an exclusive interview with BW Businessworld Mario Tsai, Deputy Executive Director, Strategic Marketing Department TAITRA (Taiwan External Trade Development Council) talks about how Taiwan is trying to penetrate the Indian markets without a formal diplomatic relationship with the country. Q- Can you take us through what Taiwan Excellency is and what is it doing in India? How is it promoting its goods and services in the Indian Markets?Taiwan Excellence Campaign was initiated by the Taiwan Ministry Of Economic Affairs in 1993. All the products which come in the markets (local and international) are given accreditation by TAITRA. And they are selected by judges and go through a rigorous process. All the products that carry thus symbol. We are here because Taiwan has a lot of products that can be combined with Indian products to try to create business opportunities. We are looking for collaborations with India and grow our business.
Q- Any sectors in particular that TAITRA is looking to explore in India? We are looking forward to expand in leisure and sporting goods sector in India.
Q- What are challenges TAITRA(Taiwan External Trade Development Council) is facing in the Indian Markets? The major challenge are the competitors in the market. Our major competitor is now China. The Chinese companies are very proactive in India. And sometimes they also offer better price than Taiwanese companies, as labor cost is of course is cheaper. India is a very quality sensitive market. And that is really good for us.
Q- What are the steps the organization is taking to boost Indo-Taiwaniese trade ties? OR Steps to get deeper in the Indian markets?We have been trying to conduct many ways of event marketing. Last year and this year we participated in Smart Cites in India. We have been organizing Taiwan Excellence Gaming Cup in India for five years. 561 teams signed up for this last year. The winner was awarded 2 lakh rupees. We interacted directly with the general public. So it is a way of marketing of our products, and also strengthen people to people contacts between the two countries.
Q- How much and how far does the trade get impacted as there are no formal diplomatic relations between the two countries? Its neither easy nor difficult. We are very happy that the business relations and cultural relations between India and Taiwan are expanding a lot. Technology is a strong point for exchange and business between our two countries. A lot of Indian people are working in Taiwan. Last year an MoU was signed between India and Taiwan for industrial cooperation as well. So we are progressing.
Q-Take us through a few initiatives TAITRA is taking in India? In addition to the Taiwan excellency project we are going to have a Taiwan Expo in India in the coming month of May. And in this we will showcase our technology as well as our culture to our Indian friends.
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