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India-Taiwan relationship
Read more on - Polity | Economy | Schemes | S&T | Environment
- Twenty Five years: India and Taiwan are celebrating 25 years of their partnership. The year marks the 25th anniversary of the establishment of respective representations in New Delhi and Taipei.
- Existing areas of cooperation: Both have deepened the mutual respect which is underpinned by openness, democracy. They recognise diversity as the key principles for collective growth and share faith in freedom, human rights, justice and rule of law. India and Taiwan already collaborate in the area of traditional medicine. India’s has been in the forefront in fighting against COVID-19 and Taiwan’s handling of the pandemic and its support to other countries underlines the need to deepen cooperation in healthcare.
- How Taiwan may support India: Indian government is facing the huge challenge of maintaining air quality and stubble burning is an important reason for this. Taiwan could be a valuable partner in dealing with this challenge through its bio-friendly technologies. Such technologies can convert agricultural waste into value-added and environmentally beneficial renewable energy or biochemicals. This will help in dealing with air pollution and also enhances farmers’ income. Further, they can undertake joint research and development initiatives in the field of organic farming.
- Other areas: Cultural exchange is the cornerstone of any civilisation exchange and India and Taiwan can deepen people-to-people connection. This will appreciate another culture and helps in overcoming prejudices and cultural misunderstanding. Tourism is another key tool in civilisation exchange and there are small numbers of Taiwanese tourists arriving to India. To accelerate the flow of Taiwanese tourists, connectivity in Buddhist pilgrimage can be strengthened in addition to showcasing India’s incredible diversity. Taiwan Tourism Bureau partnership with Mumbai Metro can raise awareness about Taiwan and increase the inflow of Indian tourists.
- Economic ties deepening: In 2018, both the countries signed a bilateral trade agreement in which was an important milestone in trade relations. India has a huge market which provides Taiwan a huge investment opportunity. Taiwan’s is the world leader in semiconductor and electronics which can complement India’s leadership in ITES (Information Technology-Enabled Services).
- There are around 200 Taiwanese companies in the field of electronics, construction, petrochemicals, machine, ICT and auto parts operating in India. Despite the huge potential, Taiwan investments have been meagre in India due to dismaying regulatory and labour regime.
- But India’s recent strides in the ease of business ranking will provide Taiwan with lucrative business opportunities and mitigate its over-dependence on one country for investment opportunities. Policymakers can coordinate with the business community to help them in navigating the regulatory landscape for better ties. To make this relationship more meaningful, both sides can create a group of empowered persons to chart out a road map in a given time frame.
- Knowledge centre:
- One China Policy - This is a diplomatic acknowledgement of China's position that there is only one Chinese government. Under the policy, the US recognises and has formal ties with China rather than the island of Taiwan, which China sees as a breakaway province to be reunified with the mainland one day. The One China policy is a fundamental bedrock of Chinese policy-making and diplomacy. It is distinct from the One China principle, whereby China insists Taiwan is an inalienable part of one China to be reunified one day. Although Taiwan's government claims it is an independent country officially called the "Republic of China", any country that wants diplomatic relations with mainland China must break official ties with Taipei. This has resulted in Taiwan's diplomatic isolation from the international community.
- Taiwan's semiconductor industry - Taiwan, which China regards as a province, is being courted by many nations now for its capacity to make leading-edge computer chips. The leading firm is TSMC (Taiwan Semiconductor Manufacturing Co.), the world’s largest foundry and go-to producer of chips for Apple Inc. smartphones, artificial intelligence and high-performance computing. Taiwan’s role in the world economy largely existed below the radar, until it came to recent prominence as the auto industry suffered shortfalls in chips used for everything from parking sensors to reducing emissions. With carmakers including Germany’s Volkswagen AG, Ford Motor Co. of the U.S. and Japan’s Toyota Motor Corp. forced to halt production and idle plants, Taiwan’s importance has suddenly become too big to ignore.
- Foxconn - The Hon Hai Precision Industry Co., Ltd., trading as Foxconn Technology Group, is a Taiwanese multinational electronics contract manufacturer. It is one of the world's largest provider of electronics manufacturing services a huge private employer in Taiwan. Terry Gou is the company's founder and former chairman. Foxconn has 12 factories in nine Chinese cities—more than in any other country, with the largest located in Longhua Town, Shenzhen, where lakhs of workers produce the bulk of Apple's iPhone line.
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