Panda highlights 63M Indian MSME capabilities
Twenty Micro, Small and Medium Enterprises (MSMEs) have sought Taiwanese expertise at the India-Taiwan SME Development Forum held at Taipei 13-17 Nov 2018.
The MSMEs, in general engineering, auto components, electronics and plastics, are seeking linkages with their Taiwanese counterparts.
Addressing the forum, the MSME Ministry secretary Dr. Arun Kumar Panda noted Taiwan’s strong industrial base with well-developed MSME sector especially in semiconductors, petrochemicals, automobile and auto parts, wireless communication equipment, steel, plastics, textiles and light engineering machineries.
Speaking about integrating the Indian MSMEs with the regional and global value chain, he said that there is a lot of potential for cooperation in MSME sector between India and Taiwan.
Dr. Panda said India welcomes investment both in terms of technology transfers and FDI by Taiwanese companies in India with Indian SMEs.
Sectors like electronics, auto-components, textiles, automobiles, bamboo industry, in which Taiwan has largest concentration, are of special interest to India, he noted.
He pointed out that Indian MSMEs are also considered competitive in sectors like auto components, pharmaceuticals, IT, bio-technology and Food Processing.
Dr Panda highlighted the ministry’s International Cooperation Scheme helps Indian MSMEs secure technology, upgrade and modernize production processes for promote exports.
Dr Panda elaborated on the MSMEs’ strategic importance and capabilities spread over 63 million companies across various industries, employing more than 111 million persons and producing over 8,000 products, ranging from traditional to high-tech precision items.
India’s major exports to Taiwan are naphtha, minerals, refined copper cathodes, ferrochromium, zinc, aluminium and pig iron. Taiwanese shipments to India include Poly Vinyl Chloride, flat rolled products of alloyed steel, electronic integrated circuit, accessories of machines, solar cells, digital cameras and voice transmission machines. fiinews.com
