MOHALI: Taiwan is all set to become major partner of Punjab on its path to Industrial Development and is looking to double its investment in India in next three years.
· Focusing on doubling investment inIndia in next three years-John H. Lin
· Punjab looking for joint ventures withTaiwan in Food processing, Agro, IT, Electronics, Infra structure, Light engineering and Textiles
On the second day of Progressive Punjab Investors Summit, the session of ‘Focus Taiwan: Business Opportunities with Taiwan’ was the main center of attraction with Taiwan entrepreneurs eyeing their investment opportunities in different areas of Food Processing, Agro, IT, Electronics, Infrastructure, Light Engineering and Textiles. Mr. John H. Lin, Vice Chairman of CTCI Corporation, Taiwan, Ms. Susan, MD AFTA Technology Company Ltd, Mr. Hur-Lon Lin, CEO Green Energy Technology and Mr. Mark. Lee Chairman TEEMA explored the various opportunities in a session moderated by Mr. Suresh Kumar, Financial Commissioner Development.
Inaugurating the session Punjab Finance Minister Mr. Parminder Singh Dhindsa said that Punjab was an ideal place for entrepreneurs from Taiwan to do business with state due its strategic location, robust infrastructure, abundant availability of talent, ease of doing business, fiscal incentives, cluster strengths, strong macroeconomic indicators and on the top of it quality of life of Punjabis.
Mr. Dhindsa said that food bowl ofIndia has strong food processing potential with greater demand for post harvest and allied activities. He said that Punjab andTaiwan can work together in compatible mode with Taiwan having strength in hardware and Punjab with strength in software. He said that Punjab was the textile manufacturing base and Taiwancould partner with Punjab’s industry by supplying state-of-the-art machinery, similarly, in Engineering industry Taiwancould setup its manufacturing base in the state. With multi thousand crore infrastructure projects in pipeline in state, Taiwan could provide technical know-how, added Mr. Dhindsa.
Citing synergies with Taiwan, Mr. Dhindsa said that Taiwan’s expertise in food processing machinery and Punjab’s production in agriculture could be a killing combination to dominate world market. He said that there was a great opportunity in state for providing value chain integrators like cold chain, warehousing and retail chain. Evincing great interest in IT sector, Mr. John H. Lin, vice chairman of CTCI Group, said Taiwan while maintaining 80% supply of IT Hardware to the world was looking for right partners like Punjab having strength in software. He said that with record growth of software export from the state, Punjab and Taiwan could work in complete compatible mode. The Entrepreneurs from Taiwan showed great interest in investing in bicycle parts and components, auto parts and components and looking for Punjab partners for technology transfer. They also evinced great interest in cotton and blended yarn production, readymade garments and in retail chains.
Expressing desire to invest in green energy sector Mr. Hur-Lon Lin, CEO, Green Energy Technology, Taiwan said that his company was looking for to invest in these sectors as Punjab has potential of 600 MW power generation from Bio-mass, 1000 MW from Solar sector and 600 MW from small and Mini-Hydel projects. The entrepreneurs from Taiwan have also expressed desire to invest in Biosciences and Healthcare, Urban Infrastructure, up-gradation of transport system, road network enhancement and Skills and training sectors. Taiwan is also contemplating to setup industrial park in the state with Union Government allowing 100 percent FDI cap in this sector.