A delegation comprising 21 traders and investors from Taiwanese auto parts and automobile electronics manufacturing companies will visit Delhi on 5th September 2014; this delegation is organized by Department of Investment Services (DSI), Ministry of Economic Affairs, Republic of China (Taiwan) which is headed by Mr. Bennet Chen (Deputy Director General) of the Department of Investment Services, Ministry of Economic Affairs, Taiwan. They have already visited Bangalore and Pune since 31st August and made visits to several automobile manufacture companies such as Tata, Mahindra, Suzuki, Volvo, Toyata and Honda.
Amb. Chung Kwang Tien, Representative of Taipei Economic and Cultural Center in India, said “In response to Prime Minister Mr. Narendra Modi’s vision of ‘Come and Make in India’ inviting manufacturers from across the world to invest in India, and help boost India’s industrial growth, Taiwanese automobile manufacturers are looking forward to exploring the possibilities of business cooperation for the Taiwanese auto parts and automobile electronics makers in India”.
DSI pointed out that according to Organisation Internationale des Constructeurs d'Automobiles (OICA), from 2010 India became the 6th largest automobile manufacturer, with two wheelers and three wheelers crossing more than one-crore units being manufactured every year and therefore the demand for auto parts is huge. There are almost 30 automobile manufacturing companies in the Indian market. The demand for high quality auto parts and auto electronics is increasing day by day and the Taiwanese manufacturing companies would like to contribute with their auto parts and automobile electronics to meet the growing demands of the auto market in India.
In addition, according to Taiwan customs’ data in 2013, the export of auto parts and automobile electronics was US$ 11.2 billion, out of which only 35 million was exported to India, which occupies only a meager 0.32% of the total share which was much lower than US, Japan, Germany, Korea and mainland China. Considering the quality of products from Taiwan and the market size in India, the prospect for future cooperation is very promising. India is a potential auto market for the Taiwanese auto part manufacturing companies.
