Seeing the low penetration and high growth potential, Taiwanese companies are eagerly looking at the Indian market for technical textile products. Rising labour costs in China too is forcing some of these companies to consider manufacturing in India.
?There are many Taiwanese companies looking at India to expand their business in the South Asian region. With the growing demand, more opportunities can be tapped in this part of the world and we receive many enquiries from companies wanting to know more about Indian market, potential and opportunities, problems, etc.,? says Sean Tsai, Overseas Market Development, Taiwan Textile Federation.
According to him, a handful of Taiwanese textile companies have set-up operations in India to expand their business here and other South Asian markets like Jintex Corporation, which has been operating in the country from in Bangalore since 2003. Taiwanese suppliers are associated with Indian companies, including SRF, Supreme Group, Ginni Filaments, Khosla Profil, Alok Industries, Aditya Birla Nuvo, Welspun, Wildkraft, Moxi Sports and Proline. Indian companies too are eager to get into joint ventures, technology transfer and partnerships with Taiwanese companies. Taiwan ranks 6th among global technical textile producers. Its goal is to achieve new Taiwan dollar 580 billion worth textiles by 2015-16 out of which 40 per cent would be technical and industrial textiles.