India Wants More Machine Tools From Taiwan

In July of this year alone, Taiwan's machine tool exports to India reached US$41 million, a jump of 55% over the same period of last year. The Taiwan Association of Machinery Industry (TAMI) expects that this year in total, the island will have exported US$80-100 million worth of machine tools to India, about one-tenth of aggregate exports of Taiwan's machine tools. As a result, Taiwan may compete with Japan, Germany and Italy to be ranked among the top three importers of India's machine tools. According to the Taiwan Commercial Times, the association attributes the robust growth of exports to the fact that India has dropped substantially its export tariffs against machine tools and opened its auto parts industry. Taiwan's competitive prices are also important. In efforts to further the bilateral trade, the TAMI has planned to organize a delegation to Bangalore next year, as well as invite key Indian agents to attend Taipei International Machine Tool Show next March.