Taiwanese companies should team up to explore business opportunities in India’s growing smart cities, Taiwan External Trade Development Council (TAITRA, 外貿協會) chairman James Huang (黃志芳) said yesterday.
Indian Prime Minister Narendra Modi’s administration has unveiled a list of 100 cities for its ambitious smart cities project, Huang told the Taipei Times during a visit to Shantigram, a newly built town developed by India’s infrastructure conglomerate Adani Group.
The trade promotion agency held its Smart Asia trade show featuring technology applications used to improve city infrastructure for the first time in Bengaluru, India, in November last year.
“Some Taiwanese companies successfully secured orders from Indian customers [for the city development projects] after the event,” Huang said, referring to industrial computer provider Advantech Co (研華) and energy management supplier Delta Electronics Inc (台達電).
“LED streetlights and electronic water meters are also niche Taiwanese products [in India],” he said, adding that Taiwanese companies should also consider introducing healthcare and transportation services, such as Taipei’s YouBike public bicycle rental scheme.
Asked about how companies can overcome difficulties when they seek to enter the Indian market, Huang said finding a suitable local business partner might be the most efficient way for Taiwanese firms to build their presence in the nation.
“Taking Adani as an example, the group’s nationwide distribution channels could lend support to Taiwanese companies that would like to promote their products in India,” he said.
Adani is still in discussions with state-owned oil company CPC Corp, Taiwan (台灣中油) to jointly build a petrochemical park in India’s Mundra special economic zone, despite increasing uncertainty about the project, people familiar with the matter said.
The two firms are still discussing the project and the Indian group is very willing to participate in the NT$180 billion (US$6.03 million) project, Adani’s Taiwan representative Morris Chang (張健庭) said on Monday, adding that some Japanese firms have also expressed an interest.
Gujarat-headquartered Adani, which operates India’s largest thermal power plant, is also the biggest private energy producer in India.
CPC has been trying to expand its footprint in India to develop a complete supply chain for Taiwanese petrochemical suppliers as part of the government’s New Southbound Policy.
However, CPC chairman Tai Chein (戴謙) last month voiced concerns about the uncertainty of government-backed investment in India, saying that Adani, which previously planned to take a 26 percent stake in the project, had changed its mind.
In addition, Adani’s proposal might bring unfavorable tariffs and higher transportation costs, as the proposed site is not in a special economic zone and does not qualify for favorable tax terms, Tai said.
CPC plans to complete the assessment of the India project by September, it said.
MULTIFACETED: A task force has analyzed possible scenarios and created responses to assist domestic industries in dealing with US tariffs, the economics minister said The Executive Yuan is tomorrow to announce countermeasures to US President Donald Trump’s planned reciprocal tariffs, although the details of the plan would not be made public until Monday next week, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. The Cabinet established an economic and trade task force in November last year to deal with US trade and tariff related issues, Kuo told reporters outside the legislature in Taipei. The task force has been analyzing and evaluating all kinds of scenarios to identify suitable responses and determine how best to assist domestic industries in managing the effects of Trump’s tariffs, he
TIGHT-LIPPED: UMC said it had no merger plans at the moment, after Nikkei Asia reported that the firm and GlobalFoundries were considering restarting merger talks United Microelectronics Corp (UMC, 聯電), the world’s No. 4 contract chipmaker, yesterday launched a new US$5 billion 12-inch chip factory in Singapore as part of its latest effort to diversify its manufacturing footprint amid growing geopolitical risks. The new factory, adjacent to UMC’s existing Singapore fab in the Pasir Res Wafer Fab Park, is scheduled to enter volume production next year, utilizing mature 22-nanometer and 28-nanometer process technologies, UMC said in a statement. The company plans to invest US$5 billion during the first phase of the new fab, which would have an installed capacity of 30,000 12-inch wafers per month, it said. The
Taiwan’s official purchasing managers’ index (PMI) last month rose 0.2 percentage points to 54.2, in a second consecutive month of expansion, thanks to front-loading demand intended to avoid potential US tariff hikes, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. While short-term demand appeared robust, uncertainties rose due to US President Donald Trump’s unpredictable trade policy, CIER president Lien Hsien-ming (連賢明) told a news conference in Taipei. Taiwan’s economy this year would be characterized by high-level fluctuations and the volatility would be wilder than most expect, Lien said Demand for electronics, particularly semiconductors, continues to benefit from US technology giants’ effort
‘SWASTICAR’: Tesla CEO Elon Musk’s close association with Donald Trump has prompted opponents to brand him a ‘Nazi’ and resulted in a dramatic drop in sales Demonstrators descended on Tesla Inc dealerships across the US, and in Europe and Canada on Saturday to protest company chief Elon Musk, who has amassed extraordinary power as a top adviser to US President Donald Trump. Waving signs with messages such as “Musk is stealing our money” and “Reclaim our country,” the protests largely took place peacefully following fiery episodes of vandalism on Tesla vehicles, dealerships and other facilities in recent weeks that US officials have denounced as terrorism. Hundreds rallied on Saturday outside the Tesla dealership in Manhattan. Some blasted Musk, the world’s richest man, while others demanded the shuttering of his