Taiwan Expo 2024 Returns After Hiatus To Strengthen Trade with India

Taiwan Expo 2024 is back again after the rest of five years, to be held from July 8 to 10 at Bharat Mandapam (Pragati Maidan), Hall No. 2. Organized by the International Trade Administration, Ministry of Economic Affairs (TITA), and the Taiwan External Trade Development Council (TAITRA), it offers a valuable platform for economic growth and investment through enhancing trade relationship between Taiwan and India.

Export of chips was high among other products where Taiwan exported to India within five months in 2024 as this accounted for $1.18 billion reflecting an increase of 49.4%. This sector constituted more than one-third of Taiwan's overall exports to India which were valued at $3.23 billion USD in total during that period alone. On the other hand, Taiwanese global export growth was at 9.1% but plummeted to rise by 28.1% for goods going into India showing strong double-digit growth.

Because of various initiatives such as ‘Make in India,’ ‘Digital India,’ ‘Green India,’ and ‘Smart City’ launched by the Indian government, it has become a major manufacturing base in Asia with good prospects for growth over time. The Taiwan Expo 2024 will focus on five aspects: Smart Lifestyle, Smart City, Smart Manufacturing, Green Innovations, and Wellness Fiesta.

At a pre-expo press conference attended by nearly fifty media houses, distinguished personalities like Mr. Gaurav Vats from FICCI and Mr Rajoo Goel from ELCINA together with Mr Rakesh Chandra Sharma from ITPO. Executive Director of the Economic Department, TECC, Mrs. Chen Yu-chi, also attended and emphasized the international significance of the event.

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Taiwan's 14th major trading partner is India, having lately experienced a growth of 25.8% in total trade volume between them from January to May 2024, this was according to Kevin Cheng, Deputy Executive Director of TAITRA. This rise underlines the scope for further economic cooperation between the two nations specifically in electronics manufacturing and smart cities.

More than one hundred companies will showcase over a thousand products at the exhibition with strong representation by the Taipei Computer Association, the Taiwan Textile Federation, and the New Taipei City Government among others. In addition to that it provides an all-round view of Taiwan’s different offerings such as its AI excellence, healthcare sector, beauty industry, or food sector which the participants would be able to explore.