How did the Taiwan Expo contribute to the successful collaboration between Taiwan and India? – Travel And Tour World

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In recent years, bilateral collaboration between Taiwan and India has significantly boosted economic growth, making both countries attractive destinations for investment and development. One of the key initiatives facilitating this growth is the Taiwan Expo, which plays a crucial role in fostering bilateral trade relations. As international travel and tourism flourish, events like the Taiwan Expo become pivotal in enhancing global trade dynamics.

Taiwan Expo 2024: A Platform for Economic Growth

The much-awaited 7th edition of the Taiwan Expo 2024, organized by the International Trade Administration, Ministry of Economic Affairs (TITA), and the Taiwan External Trade Development Council (TAITRA), is set to take place from July 8-10, 2024, at Bharat Mandapam (Pragati Maidan) in Hall No. 2. This event marks the grand return of the expo after a five-year hiatus, drawing significant attention from both Taiwanese and Indian stakeholders.

Key Highlights of the Expo

The Taiwan Expo 2024 will focus on five key themes: Smart Lifestyle, Smart City, Smart Manufacturing, Green Innovations, and Wellness Fiesta. These themes will showcase Taiwan’s latest technologies and solutions, offering exhibitors and visitors a closer look and deeper experiential interaction with a diverse product portfolio.

Smart Lifestyle and Smart City Innovations

As India continues to emerge as a regional manufacturing hub, the Taiwan Expo 2024 will highlight Smart Lifestyle and Smart City innovations. These include the latest AI gaming laptops from Gigabyte Technology and MSI, and the flagship camera VB350 from AVer Information. These innovations are set to revolutionize the way urban living and personal entertainment are perceived.

Economic Impact of Taiwan-India Trade Relations

The effectiveness of supply chain relocation to India has been significant. From January to May 2024, the highest export from Taiwan to India was in chips, amounting to $1.18 billion, a growth rate of 49.4%. This accounted for more than 36% of Taiwan’s total exports to India, which totaled $3.23 billion. During the same period, Taiwan’s global export growth rate increased by 9.1% compared to the previous year, while exports to India surged against the trend with a 28.1% increase.

Boosting Bilateral Trade Through Taiwan Expo 2024

The pre-expo press conference attracted nearly 50 media outlets and included distinguished guests such as Mr. Gaurav Vats, Director East Asia, North America, Federation of Indian Chambers of Commerce & Industry (FICCI), Mr. Rajoo Goel, Secretary-General, Electronic Industries Association of India (ELCINA), and Mr. Rakesh Chandra Sharma, I.A.S. General Manager (BDD), India Trade Promotion Organisation (ITPO). Ms. CHEN Yu-Chi, Executive Director, Economic Division, TECC, also participated, making the event a bustling hub of international interaction.

India as a Manufacturing Hub for Travel Industry

India, the world’s fifth-largest economy and most populous country, boasts a vast consumer market and abundant workforce. Initiatives like ‘Make in India,’ ‘Digital India,’ ‘Green India,’ and ‘Smart City’ have stimulated numerous growth opportunities in the domestic market. Reflecting these trends, the Taiwan Expo 2024 will showcase Taiwan’s latest technologies and solutions, offering exhibitors and visitors a closer look and deeper experiential interaction with the diverse product portfolio.

Trade Growth and Opportunities

Mr. Keven Cheng, Deputy Executive Director, TAITRA, highlighted that “From January to May 2024, the total trade volume between Taiwan and India grew by 25.8% compared to the same period last year, making India our 14th largest trade partner. This significant growth underscores the immense potential for Taiwan-India economic cooperation, particularly in electronics manufacturing, smart cities, and ICT sectors. The Taiwan Expo aims to further consolidate and grow business opportunities by showcasing the latest products and solutions curated based on the most recent government policies, local market demands, and consumption trends. We hope to continue to build the best stage that promotes bilateral trade relations between both countries.”

Product Previews and Innovations

The press conference featured a sneak preview of products from selected exhibitors, offering an exclusive pre-exhibition display. Highlighted products included Gigabyte Technology’s latest AI gaming laptops, MSI’s cutting-edge AI gaming laptops, and AVer Information’s flagship camera VB350. Also showcased were Ares Monitor Arm by Modernsolid Industrial, professional medical-grade support products by Grace Care International, protein hair creams by SHAAN HONQ, and a variety of health-conscious foods and beverages by TSAN YU YEN Food and Shian Yuan International. These showcases highlighted Taiwan’s excellence across AI, healthcare, beauty, and food industries.

Connecting Businesses and Consumers

Taiwan Expo in India 2024 will feature over 120 companies showcasing more than 1000 products from Taiwan. Notably, the two major associations in Taiwan, the Taipei Computer Association (TCA) and the Taiwan Textile Federation (TTF), along with the New Taipei City Government, will participate. This participation underscores the diverse range of offerings from Taiwan and provides Indian attendees with an excellent opportunity to explore and connect with these innovations.

The Taiwan Expo 2024 is more than just an exhibition; it is a platform that fosters economic growth and strengthens bilateral trade relations between Taiwan and India. With its focus on key themes such as Smart Lifestyle, Smart City, Smart Manufacturing, Green Innovations, and Wellness Fiesta, the expo showcases Taiwan’s latest technologies and solutions. As tourism and international travel continue to grow, events like the Taiwan Expo play a vital role in enhancing global trade dynamics and promoting cultural exchange.