Mar 25, 2015
The trade body, India Electronics and Semiconductor Association (IESA) representing Indian Electronic System Design and Manufacturing (ESDM) industry signed a Memorandum of Understanding (MoU) with Taiwan Electrical and Electronic Manufacturers' Association (TEEMA) to promote co-operation and investment for benefitting both Indian and Taiwanese companies.
The collaboration will emphasise on establishing strong India-Taiwan relationship and create a beneficial proposition for India in the field of electronics and ICT. The association will work towards encouraging the Taiwan-based electronics companies to bring more investments and commitments to the electronics ecosystem in the country and also, partner with Indian companies for technology and knowledge transfer.
The partnership will facilitate members from both the countries visiting each other's important industrial leaders, institutions, organizations and organise trade meetings to help the members understand international trade practices. IESA's trade terms with Taiwan started almost a year ago when the association took initiate to sign a pact with Taiwan Computer Association (TCA) to create opportunities of investment and provide skill enablement.
MN Vidyashankar, President, IESA said, "India is positioned among priority destinations for electronics innovation, development and manufacturing, primarily due to its maturity of the market, availability of talent and the expertise India can bring to the ESDM supply chain with components like designing, embedded system, VLSI etc." He emphasised that the partnership will speed up industry government relations promoting faster economic development.
Taiwan Electrical and Electronic Manufacturers' Association (TEEMA) was founded in 1948. From the production of basic electrical devices such as light bulbs and power distributions after World War II, electrical and electronic industries in Taiwan have strived to led the sector to be one of the world's renowned IT hub across globe.
Source: THE TIMES OF INDIA