With a view to fostering ties with East Asia under the government’s Act East policy, a high profile business delegation comprising rubber industry entrepreneurs will be visiting Taiwan and South Korea from June 20 to 25.
The visit comes in the wake of India’s growing trade with Taiwan and Korea. The trip is intended to further enhance and expand business collaboration, particularly opening up new opportunities for the Indian MSME sector by way of new markets, joint ventures, sharing of best practices and technology collaboration.
According to Mohinder Gupta, President, All India Rubber Industries Association (AIRIA), Taiwan is very active in R&D, product innovation and in supplying quality products, which enable the development of international brands. The current changed economic scenario in Taiwan has opened up new trade opportunities for Indian entrepreneurs.
Gupta, who is leading the delegation, said that both India and Korea are among the world’s largest producers of rubber and rubber products. Despite India and Korea having distinguished positions in the global rubber market, the bilateral trade in rubber and rubber products between the two countries is comparatively small.
The Indian delegation’s visit has been coordinated by India-Taipei Association in Taiwan, Taipei Economic and Cultural Centre in India and Korea International Trade Association (KITA). It is supported by the Ministry of Micro, Small and Medium Enterprises.