With the aim to develop the Indian market potential, the Bureau of Foreign Trade, MOEA, Taiwan, and the Taiwan External Trade Development Council (TAITRA), participated in the Connect 2010 as a global partner in Chennai. The Connect 2010 event hosted a Taiwan International Brand Forum, where leaders of ‘Taiwan Excellence’ companies like D-Link, ASUS, MSI Computer and others congregated under one roof to formulate strategies that will enhance significant business and trade prospects in the Indian Information and Communication Technology (ICT) Industry.
The Indian market offers the perfect environment for the growth opportunities of Taiwan’s ICT products due to the exponential rise in the Indian economy. Despite entering the Indian market after other Asian technology giants, Taiwan companies, have been most capable in meeting the large demand of Indian market. Examples include companies such as Acer and D-Link.
The Taiwan ICT industry today has transformed itself from just being an OEM (Original Equipment Manufacturer) mode to OBM (Own Branding and Manufacturing). According to a report by the U.S. market research firm Gartner released on May 17, 2010, Taiwan laptop brands Acer and Asus have risen to take the No. 1 and No.4 shares of the Western European PC market during the first quarter of 2010. This was predominantly achieved by these brands tapping local manufacturing expertise and working towards a single most important objective to offer consumers innovation and high value.
Wayne W. Wu, Deputy Chairman, TAITRA said, “As global partner, it’s a honor to integrate our brands forum into the 10th edition of Connect 2010 and we are grateful for the keen support from the Tamil Nadu government and the Confederation of India Industry (CII).” He further added, “It is a known fact that India is one of the fastest growing economies in the world today clocking 8 percent growth even during the present economic environment, this provides an immense growth potential for the private sector from Taiwan to expand their geographical reach, promote export and attract investment from India. To share some facts, participation in last year’s Indian expo by 180 Taiwanese companies garnered orders of US$5.5 million on site, with follow-up business estimated at US$85.5 million.”
In addition to Connect 2010, TAITRA is also concurrently organizing the 4th annual EMMA Expo India (erstwhile Taitronics India). There will be 166 exhibitors using 260 booths at the expo, which feature best quality Electronics, Machinery, Mold, and Auto parts (EMMA) products from Taiwan. Leading brands like Philips and Lite-On, CMC motor, TECO, HIWIN Technologies, and Far East Machinery will also participate in the expo.