Changhua County has reached a preliminary agreement with Madhya Pradesh to export bicycle components to the Indian state, the county chief said yesterday.
The deal was made after talks between Changhua County Commissioner Cho Po-yuan (卓伯源) and Shivraj Singh Chouhan, chief minister of Madhya Pradesh. The state will buy Taiwanese components and then assemble, market and sell the finished bikes in India, Cho said.
Because Changhua is a bike--production hub, the Indian -business sector has expressed great interest in working with the county, said Cho, who is leading a delegation to strengthen business ties between Taiwan and the South Asian country.
Another member of the group, Kuo Yung-pin (郭永斌) of bike--control-system provider Chia Cherne Industrial Co (佳承精工), promised to coordinate with other bike--component manufacturers in Taiwan about production cooperation with India.
The export of components for assembly will be the first step for Taiwan’s bicycle industry to -penetrate the India market, Kuo said. If such an arrangement works, he said, Taiwanese component makers will consider building and operating production facilities in India.
Taiwan’s bicycle sector had little information about the India market before this visit, Kuo said, and his company has been surprised by India’s willingness to cooperate with Taiwanese bike and component makers.
With a population of 1.18 billion people — the world’s second-largest — India is such a huge market that garnering just a single-digit-percent market share would generate significant sales, Kuo said.
“We are very confident in taking a share here,” he said.
Cho’s delegation arrived in India on Thursday to promote products from Changhua County.
The county commissioner participated in the Global Investors Summit held in Khajuraho, also in Madhya Pradesh, over the weekend.
The visit is aimed at boosting Changhua’s international visibility and also at giving the county a better understanding of the world, he said.
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