Tongtai Machine Tool Company, Fair Friend Group and Chain Headway Machine Tool Company to invest in India
Taipei World Trade Centre (TWTC), a Taiwanese government body to promote bilateral trade among countries, announced that three Taiwanese machine tool companies are investing in India. Tongtai Machine Tool Company, Fair Friend Group and Chain Headway Machine Tool Company will be entering the Indian market.
The Taiwanese Machine Tool Trade Show, held in Chennai, has generated on-site business and attracted industrial players from Taiwan. Following the huge success of this platform, Tongtai Machine Tool Company, said to be the biggest manufacturer of special machines, will be setting up a Technical Research Centre in North India and will open its India office in Hyderabad. The Fair Friend Group, a world leading industrial holding conglomerate with over 80 companies, will invest and tie-up with an India-based local company to expand its operations in the Indian market. Chain Headway Machine Tool Company, a leading tools and accessories supplier, will collaborate with local dealers to develop high speed toolbars and cutters in the country.
Speaking on the occasion, Charles Li, director general, Taipei Economic and Cultural Centre, said, “The AIEMA Taiwanese expo generated keen business interest and attracted the best Machine Tool companies from Taiwan to invest in India. Through TWTC, we are enabling the best of India and Taiwan to correspond and engage through strategic alliances that will benefit both the nations. We are extremely keen on supporting the Indian government’s programme on Make in India.”
In the year 2015, the top ten destinations for Taiwan’s machine tool exports were China (including Hong Kong), United States, Turkey, Thailand, Germany, Vietnam, the Netherlands, India, Japan and Russia.