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Taiwan cos to scout around for tie-ups with firms in Karnataka

A six-day event is being organised in Bangalore next month, when Taiwan-based companies will scout around for joint ventures with state-based companies.

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Come September, the city will witness a flood of Taiwan industry representatives. A six-day event is being organised here next month, when Taiwan-based companies will scout around for joint ventures with state-based companies.

“From September 24 to 30, representatives of about 500 Taiwanese industries will come to the city. This event is being coordinated by the Taipei World Trade Centre Liaison Office in Chennai and these companies will be signing MoUs (Memoranda of Understanding) and JVs (joint ventures) with companies based in Karnataka,” MN Vidyashankar, principal secretary, department of commerce and industries told DNA.

Though the event will take place next month-end, the companies at both ends are already in touch, Vidyashankar said.

“They are already in discussions with companies from the Consortium of Electronics Industries of Karnataka (CLIK) and about 50 companies from CLIK are already working out the finer points of the MoUs and joint ventures. Negotiations are also on with the Karnataka Small Scale Industries Association (KASSIA) and other industry bodies,” Vidyashankar said. Another main player in organising the event is the Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA).

According to Vidyashankar, this meeting is a perfect marriage of necessity, as the event will mostly be attended by IT companies.
“Taiwanese companies are good at hardware products, which we are admittedly behind, but we are good at software based solutions. Conversely they are bad in software solutions, so this would be a good match.

“During the event you will be looking at companies that deal in electronics and semiconductors and LEDs (Light emitting diodes) to name a few. The government will not be dictating the terms of the joint ventures that these companies will enter into. We are merely there to facilitate the partnerships, that are profitable for Karnataka-based companies,” Vidyashankar said.

The event is slated to take place at the Bangalore International Centre (BIC).

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