Indian companies are hedging the trade dynamism with China, with a China plus one strategy. It has translated to India working on bilateral ties with other partner nations, in a win-win strategy. Its ties with Taiwan, for instance, are known to have gained traction over the past decade with several agreements including investments, industrial cooperation, SME cooperation and customs cooperation signed. In 2018, a bilateral trade agreement was signed between both countries, in a move looked at as a means to encourage a two-way investment flow. A great impetus has since been laid on protecting Taiwanese investments in India, in line with the international standards. Taking a leaf out of the cooperation between the two countries, the Auto Component Manufacturers Association (ACMA) played its part in exploring potential areas of cooperation. Scouting for organic collaborations in the domain of automotive electronics, telematics, EV components and infotainment, a first of its kind virtual expo marked a step in the right direction. On one hand, 25 Indian companies showcased their capabilities and on the other hand, 15 Taiwanese companies are said to have showcased their capabilities with another 60 visiting the matchmaking event. Sunjay Kapur, Vice President, ACMA and Chairman, Sona Comstar expressed hope in the two countries contributing to technological collaborations.
A red carpet welcome
This story is from the February 2021 edition of Auto Components India.
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This story is from the February 2021 edition of Auto Components India.
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