In a move to enhance trade partnerships between India and Taiwan and position India as a self-reliant electronics hub, 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 the Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA). Representing over 3,000 Taiwanese electrical and electronics manufacturers, TEEMA will work alongside EPIC Foundation to facilitate investments, foster technological collaborations, and promote Global Electronic Value Chain (GVC) Autonomy.
Under this partnership, EPIC Foundation will engage with select TEEMA members to drive technical and investment collaborations with Indian companies. With deep expertise in techno-commercial strategy and a strong network within India’s electronics ecosystem, EPIC will provide tailored market insights and execution support to help Taiwanese firms navigate and expand their operations in India. The agreement was formalized in a virtual signing ceremony attended by Dr. Albert Chen, President of TEEMA, and Mr. Harish Wadhwa, President of EPIC Foundation.
Dr Ajai Chowdhry, Chairman of EPIC Foundation, highlighted the strategic importance of this partnership, stating “Strengthening economic ties between Taiwan and India presents a valuable opportunity to diversify global partnerships and enhance geopolitical stability in the Asia-Pacific region. While bilateral trade has grown significantly, there remains untapped potential to encourage Taiwanese companies to invest in India. This MOC marks a pivotal step in fostering collaboration, leveraging TEEMA’s industry expertise to drive India’s economic growth and global influence.”
Taiwan plays a crucial role in the global manufacturing and technology sectors, making it a key trade partner for India. The agreement will enable Indian and Taiwanese businesses to collaborate in areas such as technology, sales, and joint ventures. TEEMA will connect its members with Indian partners, while EPIC will provide India-centric insights and execution strategies, ensuring seamless market entry and business success through structured commercial agreements.
Richard Lee, Chairman of TEEMA, emphasized the significance of this collaboration, stating:
“Strengthening trade relations with India is a priority for us. We greatly appreciate EPIC Foundation’s support in forging deeper business alliances, and we believe this partnership will yield mutual benefits for both nations.”
Beyond business, the partnership also aims to bridge cultural differences and improve ease of living for Taiwanese professionals and investors in India, reinforcing a long-term, strategic alliance between both nations. Epic Foundation India was established with the vision of positioning India as a global leader in electronics hardware design and manufacturing. Committed to reducing dependence on imports, the foundation fosters innovation by promoting the development of indigenous products. Through its initiatives, it aims to generate employment opportunities, strengthen national pride, and ensure a secure and self-reliant technological future for the country.
Founded in 1948, the Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) represents over 3,000 manufacturers specializing in electrical and electronic products. Dedicated to advancing the industry, TEEMA provides diverse services to its members, advocates for their common interests, and fosters collaboration between industry and academia to drive technological growth and innovation.
