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Exhibit 21.1
List of Subsidiaries of Forward Industries, Inc.
1. Forward Industries (IN), Inc., an Indiana Corporation;
2. Forward Industries HK Limited, an inactive Hong Kong Limited Company;
3. Forward Industries (Switzerland) GmbH, a Switzerland GmbH;
4. Forward Asia Pacific Limited, a Hong Kong Limited Company; and
5. Forward Ind. (UK) Limited, an inactive Limited Company of England and Wales.
All subsidiaries are wholly-owned by Forward Industries, Inc. Each does business under its name as set forth above.