NE BUSINESS BUREAU
AHMEDABAD, MARCH 19
Even though the global healthcare situation has affected the operations of a host of industrial supply chains, Taiwan’s machinery industry has already finished arranging the domestic supply chain and overseas market with very minimal impact.
This comes as positive news for India because in recent past India has been making for an attractive option for Taiwanese businessmen who are into original equipment exports. This is also because India has an ambitious vision for manufacturing to achieve a 25% share of the overall GDP by 2025, generating 100 million manufacturing jobs. Taiwan has been playing a key role as India’s trusted partner in various government initiatives like ‘Make in India’, ‘Digital India’, ‘Skill India’ and ‘Startup India’.
Win-win for Taiwan and India
For some time now, India has been looking at Taiwanese firms specializing in heavy machinery and engineering tools. The Indian government has undertaken initiatives to shore up its manufacturing sector. As the backbone of manufacturing, the machine tools industry has the potential to play a catalyzing role in the Indian manufacturing industry. This is why India is looking to benefit from Taiwan’s formidable expertise in manufacturing and the latter too is helping India augment the indigenous capacity and fill the gap for manufacturing solutions.
Taiwan has been specifically aiming at markets like India
In recent times, Taiwan has been specifically aiming at markets like India who have strong industrial development and upgradable potential among South East Asia and South Asia as key markets for promoting Taiwan’s smart machinery. Plans are in the offing to carry out superlative trade events and expos like “Taiwan Excellence Pavilion” and “Automation Expo in India allowing visitors to learn more about the specifications, characteristics, and performances of exquisite smart machinery from Taiwan.
Taiwan’s Golden Valley region which is home to 1,000 precision machinery manufacturers and 10,000 suppliers, has the highest density of any machine tool industry cluster in the world. The industry is ranged across 72 categories, with cutting and grinding tools along with those used for planning, shaping, and boring having the majority share of the market.
Speaking about how Taiwan’s machinery industry has held its firm ground even in adversities, Mark Wu, Executive Director of TAITRA’s Strategic Marketing Department, said, “Global manufacturing will recover soon from the current health impact which is only temporary. All governments and enterprises are continuously pushing the development of ‘Industry 4.0’ and unmanned factories. Taiwan’s smart machinery products that combine strong ICT functions and sophisticated precision machinery techniques will emerge strongly in this scenario. As economic cooperation between India and Taiwan increases in the areas of trade, investment, and industry, Taiwan will continue to offer expertise in the machine tools industry.”
