The core competencies of Taiwan are in smart machinery and precision components
Published on : Tuesday 05-04-2022
Poyi Edison Hsu, Director, Taipei World Trade Centre Liaison Office, Mumbai.
Please tell us something about TAITRA, and about your role as Director of of Taipei World Trade Centre Liaison Office in Mumbai.
TAITRA is Taiwan's foremost non-profit trade promoting organisation. Sponsored by the government and industry organisations, with over 60 overseas branch offices under the name of Taiwan Trade Centre (TTC) and Taipei World Trade Centre (TWTC). The name of TAITRA comes from the combination of ‘Taiwan’ and ‘Trade’.
Taiwan and India share many common values such as the love for democracy, we both value education and family. India is a key focus within the framework of Taiwan’s New Southbound Policy.
My role is to be a bridge for Taiwanese and Indian companies in term of sourcing suppliers, facilitate business development, and help Indian government’s economic policies such as ‘Make in India’ and ‘Smart City Mission’.
In addition to that, my role also includes helping Taiwanese companies source Indian suppliers, as TAITRA assumes the role of ‘Smart Integrator’ – complement government policies, facilitate industry needs and develop new business opportunities around the world.
How do you see the role of TAITRA post Covid and how do you see yourself creating that change?
Covid-19 pandemic has been devastating for the world, but at the same time, it accelerates the adoption of technologies, more people are using teleconferences, participating in webinars, visiting tradeshows virtually, which they have not been able to do in physical tradeshows and conferences and due to cost and time constraints. After Covid-19 pandemic, people will get back to the life before, but some new habits will become the new norm and are here to stay.
The role of TAITRA will remain most the same post Covid, but TAITRA will continue to devote its effort in helping Taiwanese companies to utilise technologies in market development. In many hybrid exhibitions TAITRA organises, it has introduced ‘virtual factory tours’ – and these allow Indian businesses to visit the manufacturers’ factory in live video streaming. It is not as good as you personally being there, but it is the next best thing under the circumstances.
Traditionally, it is costly and time consuming to verify and audit a manufacturer’s factory. With a ‘virtual factory tour’, it gives a very good idea of what the manufacturer’s factory is like, and you could interact with the manufacturer in real time as well. So, Indian buyers will have more understanding of the manufacturer before making any purchase decision.
What do you hope to accomplish within the next 2 years?
As India is becoming the most populated country in the world, and it’s rapid economic development, more and more Taiwanese companies are interested in the Indian market and some of these companies are considering setting up factories in India as well. For the next 2 years, I hope to help Taiwanese companies to learn more about India, reducing the culture shocks, and eventually have a long term business cooperation with Indian companies. This goes to India as well, I would like to help Indian companies to learn more about Taiwan and Taiwanese manufacturing capabilities.
What are the opportunities that you see in India?
India has adopted a very proactive approach in advancement of industries and adoption of green technology not just in energy sector but also in manufacturing. India's push for renewable energy production and electric vehicle manufacturing is very commendable and I believe Taiwan can play a key role in industrial automation, green manufacturing, healthcare and smart mobility.
What are the various steps being taken to increase Taiwan trade with India?
Bilateral trade between India and Taiwan have been growing exponentially during the pre-Covid era and reached US$ 7.5 billion in 2019. India offers a large market for Taiwanese electronics and consumer goods. Taiwan’s core competencies lie in smart machinery and high-quality precision components for the industrial usage, and with the support of encouraging government incentives, I am looking forward to drive Taiwanese imports in India for establishing new robust global supply chain.
What is your is your message to our readers who are from the automaton domain?
Taiwan and India share many similarities, yet we are different in many ways. Through in-depth understanding, we will cooperate effectively.
I humbly invite all your readers to get in touch with TAITRA’s offices (Mumbai, Chennai, Kolkata and New Delhi) in India to fulfil their sourcing requirements and visit world renowned exhibitions in Taiwan. This September, TAITRA is going to organise ‘Taiwan Expo India 2022’ in Mumbai. Come, see and experience Taiwan’s excellent products first hand. For people who are seeking job opportunities in Taiwanese companies, Taiwanese government has set up a website – ‘Contact TAIWAN’. There you will find Taiwanese companies who are seeking talents world-wide.
Poyi Edison Hsu is presently Director of Taipei World Trade Centre Liaison Office in Mumbai. Mr Hsu joined TAITRA in 2008 as a Specialist, Exhibition Department. In 2013, he was designated Senior Specialist and posted at the Tainan Office of Taiwan External Trade Development Council (TAITRA), a role he performed till 2021. Prior to joining TAITRA, Mr Hsu has work experience in tech companies in Taiwan including Compucase Enterprise Ltd, Delta Electronics, and Thermocore. About his other interests, Mr Hsu says “Meow~, I am a cat-lover. I provide food and shelter for street cats in Taiwan.”