India strengthens economic ties with Taiwan, says officials

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India strengthens economic ties with Taiwan, says officials

India strengthens economic ties with Taiwan, says officials

Industry News
Nov 14,23

This move, aimed at meeting Taiwan's demand for labour in various sectors such as factories, farms, and hospitals, could involve the employment of up to 100,000 Indians.

India strengthens economic ties with Taiwan, says officials

India is its economic bonds with Taiwan, contemplating the dispatch of tens of thousands of workers to the island as early as next month, according to informed senior officials. This move, aimed at meeting Taiwan's demand for labour in various sectors such as factories, farms, and hospitals, could involve the employment of up to 100,000 Indians. The discussions, kept confidential, are anticipated to culminate in the signing of an employment mobility agreement by December.

Taiwan, facing demographic challenges with an aging population, requires an influx of workers, while India seeks avenues to address its employment shortfall for the burgeoning youth entering the job market annually. The proposed employment agreement, addressing these needs, carries the potential to escalate geopolitical tensions with China, which staunchly opposes official engagements with Taiwan, considering it a part of its territory.

Despite this, the pact doesn't signal a departure from India's adherence to the "One China Policy." The Indian government has not explicitly reiterated this stance in public documents, maintaining an unofficial but active relationship with Taiwan. The finalisation of the India-Taiwan jobs pact is in its concluding stages, as confirmed by Arindam Bagchi, a spokesperson for the ministry of external affairs.

The issue of certifying the health of Indian workers destined for Taiwan is still under negotiation. In Taiwan, where unemployment is at its lowest since 2000, the government is keen on securing workers to sustain its $790 billion economy. Taiwan is reportedly offering Indian workers comparable pay and insurance policies, distinguishing this deal from others India has struck with different nations.

India's government, grappling with the challenges posed by an aging global workforce, has signed employment agreements with 13 countries, including Japan, France, and the UK. Ongoing discussions involve potential arrangements with the Netherlands, Greece, Denmark, and Switzerland.

Sino-Indian relations have been strained since a 2020 border clash, marked by heightened military presence in the Himalayan region. Diplomatic talks have seen limited progress, with China releasing a new map in August claiming territories under Indian control. Notably, the visit of three former Indian military chiefs to Taiwan for a security conference drew objections from Beijing. However, India and Taiwan maintain an investment promotion pact established in 2018.

Source: Indiatimes