In a strategic bid to bolster trade partnerships between India and Taiwan, EPIC Foundation, a non-profit organization founded by HCL co-founders Dr. Ajai Chowdhry and Arjun Malhotra, has signed a Memorandum of Cooperation (MOC) with Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA). Moreover, the partnership aims to transform India into a self-reliant electronics product nation.

Through this MOC, EPIC Foundation aims to facilitate seamless investments by Taiwanese companies in India, while promoting Global Electronic Value Chain (GVC) Autonomy to drive bilateral trade relations.

Leverage Techno-Commercial Strategy

Specifically, EPIC will collaborate with select TEEMA member companies to drive technical and investment partnerships with Indian counterparts. At the same time, both will leverage its expertise in techno-commercial strategy and extensive network within the Indian ecosystem. EPIC will provide Taiwanese companies with tailored, India-specific insights and execution support to ensure successful partnerships and business outcomes.

Dr. Ajai Chowdhry, Chairman of EPIC Foundation, said, “This strategic Memorandum of Cooperation (MOC) is poised to play a pivotal role in fostering this collaboration. As a renowned unified industry voice for Taiwan’s electronics sector, TEEMA brings invaluable expertise to this partnership. We firmly believe that our concerted efforts to deepen the alliance between our nations will be instrumental in driving India’s economic growth and strategic influence on the global stage.”

Taiwan’s significance as a trade partner for India lies in its major role in the global manufacturing and technology sectors. As part of the MOC, the two nations will collaborate to support Taiwanese and Indian companies in meeting specific requirements in technology, sales, joint ventures, or partnerships.

On the other hand, TEEMA will enable EPIC to work closely with selected member companies to drive technical and investment partnerships with prospective Indian companies while EPIC will leverage its techno-commercial expertise and the network of the Indian ecosystem.

Mr. Richard Lee, Chairman of TEEMA, said, “Fostering a stronger alliance with India and deepening our trade relations is of paramount importance…this (partnership) will enable us to make significant strides in this direction. This collaboration, built on shared interests and mutual trust, will undoubtedly yield benefits for both nations.”

Going beyond the economic realm, both organizations will work to promote a better understanding of cultural differences and facilitate the ease of living in India for Taiwanese professionals and investors as part of the MOC.

27 February 2025