A multi-sector business delegation from the island nation of Taiwan will be visiting Gujarat next month to explore trade ties and will look at import opportunities from Gujarat. A semi-governmental trade promotion body called TAITRA (Taiwan External Trade Development Council) will bring around 24 Taiwanese firms to Gujarat to explore trade ties.
“On October 5th, a delegation of around 24 companies which will be multi-sectoral will be visiting and will be looking at partnerships for joint ventures, turnkey projects and explore trade and international partnerships in five days. Taiwanese firms are interested in establishing clusters and SEZ in Gujarat. We are also hoping to sign and MoU with TAITRA which is an apex body so that our members can communicate and explore further trade partnerships with the Taiwanese. Last year around 20 Taiwanese firms had visited the state and we held 153 business meetings,” said Bhagyesh Soneji, Chairperson of Foreign Trade Council at GCCI (Gujarat Chamber of Commerce & Industry).
Taiwan firms will be eyeing Gujarat for investments with a thrust on sectors like ICT, textile, auto parts and food processing for investments. “Taiwanese companies plan to invest close to $420 billion (USD) in the next 4-5 years in India. In the next 2-3 years you will see our(Taiwanese) investment here in Gujarat. Taiwanese technology major Foxconn which has already lined up $20-billion (Rs 1.3 lakh-crore) investment plans for India, maybe coming to Gujarat, Tamil Nadu, Maharashtra and Karnataka to set up 10 to 12 manufacturing units, that will employ close to 20,000 workers in the coming 2 years. Maxxis- the tyremaker has already acquired land in Sanand and will starting producing tyres for motorbike brands like Honda and Yamaha by next August,” said James Chen, who added that land for an Taiwanese industrial park in Gujarat had been acquired but did divulge more information on the same.