TN ex­pects more in­vest­ments from Tai­wan

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Tai­wan Trade Ex­ter­nal De­vel­op­ment Coun­cil (TAITRA) or­gan­ised an in­dus­trial trade sem­i­nar on “Tai­wan Au­to­mo­bile Man­u­fac­tur­ing Fo­rum” in Chen­nai. Of­fi­cials from TAITRA, lead­ing In­dian au­to­mo­bile com­pa­nies and many cor­po­rate heads par­tic­i­pated in the sem­i­nar. In­dia has been one of the ma­jor im­porters of Tai­wanese-made ma­chine tools. In the first four months of this year im­port of ma­chine tools from Tai­wan to In­dia was 45% higher than in the same pe­riod last year.

As mod­ern ma­chine tools and ad­vanced man­u­fac­tur­ing tech­nol­ogy be­gin to play a more crit­i­cal role in man­u­fac­tur­ing high-pre­ci­sion car parts, se­lect­ing the right ma­chine-tool part­ner has be­come very im­por­tant.

Dave Tsai, Di­rec­tor, TAITRA Chen­nai said, “As the In­dian au­to­mo­bile man­u­fac­tur­ing mar­ket be­comes more com­pet­i­tive, the in­no­va­tive tech­nol­ogy re­quired is be­com­ing more im­por­tant. In­dia is the fifth largest car man­u­fac­tur­ing and pro­duc­tion coun­try in the world, while Tai­wan is the fourth largest ma­chine tools man­u­fac­turer in In­dia it­self. So, we or­gan­ise these kinds of sem­i­nars and cre­at­ing new plat­forms to in­crease more trade be­tween Tai­wanese and In­dian com­pa­nies.” M Vel­mu­ru­gan, State Guid­ance Bu­reau, Ex­ec­u­tive Vice-Chair­man TN said, “Tamil Nadu is the sec­ond largest and fastest grow­ing econ­omy in the coun­try. The State’s econ­omy grew by 8% in 2018, which is around half a per­cent higher than the pre­vi­ous year. The State has been per­form­ing well and is bet­ter than the all In­dia av­er­age in sev­eral fac­tors. With the Global In­vestors meet com­ing up, we hope to see more Tai­wanese in­vest­ments.”

J Srid­har, Chen­nai Zonal Chair­man of Au­to­mo­tive Com­po­nent Man­u­fac­tur­ers As­so­ci­a­tion of In­dia, said, “The con­cen­tra­tion of ve­hi­cle man­u­fac­tur­ing units is more in North whereas the South has both ve­hi­cle man­u­fac­tur­ing units and com­po­nent in­dus­tries.”

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