The Republic Day of India, the date on which the Constitution of India came into effect on 26, January 1950, replaced the Government of India Act (1935) as the governing document of India and thus, turning the nation into a newly formed republic. We gathered together to celebrate the Republic Day of India and invited Indian experts from different backgrounds to share information about the market & investment in India at the celebration tea party. After the peak of the epidemic in 2021, the vaccination penetration rate in India has increased, and the government has also sprung into action to promote monetary and fiscal policies to strengthen the economy. With China cracking down on the technology industry, international investors are looking to India as an emerging market for investment, which leads to an IPO boom of technology startups in India in 2021. Moreover, the growth of tech startups and the electric vehicle industry is expected to continue growing substantially in 2022.
Prior to the main sharing session from the speakers, we belted out the national anthem of India to celebrate this special day. Throughout these years, we’ve nurtured more than 40 startup teams to pursue their dreams and have seen booming Indian startup power in Taiwan. In addition to introducing STARTBOARD’s Indian teams, Dr. Dinesh Kumar launched his new product – DAILYGUDS, a trade automation platform that aims to automate the goods redistribution process of a country starting in Taiwan.
India & Taiwan: A Synergic Collaboration for a Better Tomorrow
Ms. Arpita Dutta as the Senior Legal Consultant of Louis International Patent Office gave a detailed overview of India & Taiwan’s synergic collaboration. Based on both countries’ policies, talent resources, import & export categories, Taiwan is now facing a talents shortage and India’s young & high-tech talent pool is an important resource. Also, the trading categories of both countries seem to have complementary advantages. She also analyzed the startup environment and emphasized the importance of IP support, legal & pre-investment consultation, and company registration when developing the business into a new market.
The Investment Environment and Preferential Policies of Indian Market
Dr. Dinesh Kumar as the Regional Chairman-Asia of Indo-Foreign Business Council(IFBC) shared the information of India’s market and investment opportunities. In FY 2020-21, FDI inflows (including equity, re-invested earnings, and capital) reached the amount of US$81.72 billion, 10 percent higher than the previous year. Utilities, financial services, and healthcare ranked highest amongst industries likely to make new investments in India. There are also more and more international investors looking to invest in India, like Japan, the UK, Singapore, and the USA.
How I Became a Serial Entrepreneur in Taiwan
Dr. Nikhil Pathak as the Founder of Sohum Foods shared his stories and experiences of being a serial entrepreneur in Taiwan. In 2018 he founded GoEco, producing bio-based, disposable eat-ware products. After several unsuccessful experiences, he combined those and founded Sohum Foods – an Indian vegan restaurant & cloud kitchen. He not only shared his failure but mentioned the important mindset of being an entrepreneur. Besides, he gave a brief introduction of Taiwan’s startup environment and its main strengths – convenience, speed & reliability, events & interactions.
We were happy to see the audience asking questions and networking with all the speakers after the speeches, building connections with the Indian community in Taiwan. And that’s STARTBOARD’s mission from day 1, providing enterprises interested in the ASEAN market with firsthand information, and encouraging more ASEAN talents to build their business in Taiwan. We celebrated Republic Day and hope for the continued prosperity of India.