New Delhi, June 6 (KNN) The Federation of Indian Micro and Small & Medium Enterprises (FISME) is facilitating Business to Business (B2B) meetings of Indian MSMEs with the multisector delegation from Taiwan visiting the city on June 8.

The B2B Meetings will be held in Hotel Le-Meridien on June 8 from 9:00 AM onwards.

The meetings are being organized with a view to promote business between the two sides. For this, no charges are being applied.

Some of the Taiwanese companies visiting India are –  Autek Technology Corp, Geon Hung Enterprises Co Ltd, Grand Royal Enterprise Co Ltd, HPB Technology Co Ltd etc.

The visiting companies are from different sectors such as Textiles, solar, drinking water, LED Light panel manufacturers, Agriculture and Horticulture Tools etc.

Taiwan-India relationship has made significant progress for the past decades.

Economic cooperation in areas of trade, investment and industry between India and Taiwan has been very close in recent years.

Bilateral trade has grown nearly five-fold from USD 1.19 billion in 2001 to more than USD 5 billion in 2016. During the same period, India’s exports to Taiwan increased from USD 550 million to USD 2.2 billion, while India’s imports from Taiwan increased from USD 640 million to USD 3 billion.

India ranks as Taiwan’s 16th largest export destination and 21st largest source of imports. The bilateral trade relationship is further enhanced by frequent exchanges of visits by business delegations.

As of the end of 2016, around 90 Taiwanese companies have set up business operations in India, with the total investment amount of USD 1.4 billion in the fields of information and communication technology, medical devices, automobile components, machinery, steel, electronics, construction, engineering, financial services, etc.