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Source– The post is based on the article “7 ways to tango with Taiwan” published in The Times of India on 14th October 2022.
Syllabus: GS2- International Relations
Relevance– Strengthening of ties between India and Taiwan.
News- The article explains the steps needed to be taken by India to improve its relationship with Taiwan.
Recently Taiwanese semiconductor giant Foxconn partnered with Vedanta to invest 1.54 lakh crore toward semiconductor manufacturing.
Why does Taiwan want a close relationship with India?
Economic ties are important. But we cannot ignore the geopolitical environment. Taiwan wants other nations especially in the Indo-Pacific to display friendship towards.
Both India and Taiwan are democracies. Both are also facing Chinese aggression.
What is the way forward for improving ties?[Text Wrapping Break]Take a stand– We need to take a stand on issues concerning Taiwan. Foreign Ministry comment on tension in Taiwan strait was well received by Taiwan.
Open more Taiwan centres– Government should permit Taiwan to set up an office of Taipei Economic and Cultural Centre in MUmbai . These types of centres will lead to more investment in India.
Legislators visit– We should send a multi-party delegation to Taiwan. Other countries like the US, Japan send these types of delegations.
Civil society engagement– There is a need for more non-state exchanges with Taiwan. India will be benefitted by Taiwan’s deep understanding of communist China.
Focus on supply chain– Taiwan is looking for India’s help in building a resilient supply chain. India should set up a single window mechanism for firms interested in investment. State government should set up sherpa for every major investment by Taiwanese firms.
India-Taiwan FTA– Both countries should conclude a free trade agreement between them. The bilateral trade was around $7 billion in 2021. Studies show that there is great scope for FTA between two countries.
Moe scholars exchange– Both countries should increase scholarly exchange between them. There is a programme that enables academic institutions in Taiwan to send Chinese language teachers to India. It must be expanded.
