In order to expand business opportunities in the medical devices industry in Taiwan and India, SMEA of MOEA and Ministry of MSME, Government of India jointly held the "2022 Taiwan-India SME Cooperation Forum" at the Nangang Exhibition Center on Thursday, December 1. This forum focused on medical devices to invite bilateral clusters and SMEs for the exchange of business opportunities. From India, Mr. B. B. Swain, Secretary of Ministry of MSME, led a delegation of high-level officials and ten SMEs to Taiwan for discussion and exchange with SMEs in Taiwan.
With economic growth leading the world, India is the fifth largest economy and the third largest consumer market in the world. This year (2022), India has even cultivated more than one hundred Unicorn enterprises. In pursuance of the goals of the New Southbound Policy, SMEA of MOEA held the SME Joint Working Group Meeting with Ministry of MSME, Government of India in January this year, successfully deepening the bilateral partnership. Then, on December 1, we co-hosted the "Taiwan-India SME Cooperation Forum" to actively promote business opportunities linking bilateral medical devices clusters. Dr. Chin-Tsang Ho, Director General of SMEA, MOEA, said in his opening remarks that Taiwan's medical devices industry contributes the advantages of reliable supply chain, cooperative industry clusters, startups groups, and effective patent deployment. Its production value has therefore grown year after year. Indian companies can make good use of Taiwan's world-leading supply chains to develop high-tech medical devices and satisfy the huge internal demand of the Indian medical devices market. Mr. Swain, Secretary of Ministry of MSME, said in his opening remarks that India, with its growing medical devices market and high-level human resources, is willing to cooperate with Taiwan to jointly explore business opportunities in the global medical devices market. During the forum, representatives of both the medical devices clusters from Taiwan and India expressed a strong willingness to cooperate. The representative of the medical devices cluster in Southern Taiwan Science Park noted that the cluster can assist Indian SMEs of medical devices coming to Taiwan in conducting tests and verifications, and in connecting with supply chain partners. The representative of the medical devices cluster AMTZ in India explained that the cluster can assist Taiwanese SMEs of medical devices in exploring verification fields, meeting business partners, and setting up production lines in India with preferential schemes.
The "2022 Taiwan-India SME Cooperation Forum" successfully deepened the bilateral partnership between Taiwan and India and achieved the cooperation outcomes of business-to-business, cluster-to-cluster, and capacity-building in the bilateral medical devices industry. These achievements successfully assisted SMEs of medical devices in Taiwan in expanding their market internationally and, at the same time, strategically accessing the global medical devices market representing US$490 billion annually in business opportunities.
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Spokesperson: Ms. Chia-Ying Wu
Deputy Director General, Small and Medium Enterprise Administration, MOEA
Press Contact: Ms. Yi-Shan Chung
Section Chief, Small and Medium Enterprise Administration, MOEA