Taiwan will present its most recent inventions to help India’s digital landscape at Convergence India 2022.
Convergence India is one of India’s most prominent and well-known technology shows which will be held in Delhi between March 23 and 25.
Taiwanese enterprises have, for long, played a crucial role in the global digital growth story, with their revolutionary digital technologies such as the internet of things (IoT), artificial intelligence, machine learning, virtual reality and gaming.
Now, Taiwan is preparing to contribute once more to development of knowledge-sharing platforms that will showcase versatile and user-friendly digital solutions.
According to reports, the Taiwan Excellence Pavilion will provide guests a behind-the-scenes look at cutting-edge technology and advancements in sectors such as electronics, communications, gaming, productivity, energy and others.
Taiwanese educational technology company AVer Information, Consumer electronics company BenQ, Taipei City-based CyberPower, computer hardware company MSI Global, IP-based networking products and solutions provider Planet Technology and Network equipment company Zyxel are among the top brands launching new products in India.
Visitors at Convergence India will also be able to learn the about future digital ecosystems that use AI.
Taiwan Excellence’s participation in Convergence this year is more critical, given that Taipei and the central government are planning to explore new avenues for greater commercial relations and partnership.
INDIA AND TAIWAN
In 2018, the two sides inked a historic bilateral investment agreement to encourage investment flow between them. The agreement aims to secure international standards of protection against Taiwanese investments, as well as the safety and rights of Taiwanese investors in India.
It is worth noting that the ‘Act East Policy’ of India and Taiwan’s ‘Southbound Policy’ are also developing economic ties between the two countries.
Between FY18 and FY19, FDI inflows from Taiwan grew nearly tenfold. From April 2000 to June 2021, FDI inflows from Taiwan to India were valued at $602.35 million. Additionally, bilateral trade between the two countries is increasing, rising from $2 billion in 2006 to $5.7 billion in 2022, a 185% increase.
Last October, Ben Wang, director-general of Taipei Economic and Cultural Centre in Chennai, said that India is an appealing investment destination for Taiwan because it has market access to over 2 billion people, including over 300 million in India, a stable economic and political climate, a large skilled workforce, and a shared cultural relationship.
In terms of the relationship between India and Taiwan, last year it was reported that the central government accelerated talks with the latter on a $7.5-billion chip plant and trade deal.
As reported earlier, officials from New Delhi and Taipei interacted to explore a deal that would bring a chip facility to India. The plant would supply everything from 5G devices to electric cars.
It was also reported that India has been actively researching on places with sufficient land, water and manpower and authorities stated that the centre will fund 50% of capital expenditures beginning 2023, as well as provide tax benefits and other incentives.
Additionally, officials in Taipei hoped to move quickly on a bilateral investment pact that would involve tariff reductions on dozens of semiconductor-related products, as a prelude to a broader trade agreement that is also being considered.
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