Trade between India and Taiwan is increasing rapidly with Taiwan's machine tools exports to  India growing by 11.6 percent in the first two quarters of  2015 (January to June).

This comes in the wake of, the overall Taiwan-India bilateral trade touching US$ 2.108 billion in the first five months of 2015. Taiwanese exports to India contributed US$ 1.28 billion while imports from India touched US$ 828 million.  

"There is a clear cut synergy between the needs of the Indian manufacturing sector and the special characteristics of the Taiwanese machine tool industry. As the world's fourth largest exporter of machine tools and component, machine tools in Taiwan can offer products to a broad range of industries, including aerospace, automobiles, computers, energy, medical equipment as well as precision mold.

"The strengths of Taiwanese machine tools products include excellent quality, reasonable prices, integration and constant innovation, and continuous value addition. In the future, we truly expect Taiwanese products to help speed up India's manufacturing energy and make a significant contribution to the Make in India initiative," said Dr. Lee Guann-Jyh, Director of the Taipei Economic and Cultural Center in India, Economic Division.

He was speaking at a press conference at Pragati Maidan on August 20, 2015 in the backdrop of the Delhi Machine Tools Expo 2015 (DMTX). The event christened "Taiwan machine tools speed up a better India"-was organized by the bureau of Foreign Trade and implemented by the Taiwan External Trade Development Council (TAITRA).

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