Taiwan’s ageing problem is a crisis-in-making, and to ward off its impacts on its strong economy, Indian workers might play a huge role

In a major move aimed at shoring up Taiwan’s $790 billion economy, India is planning to send as many as 100,000 workers to the island as early as next month.

The workers will be employed at hospitals, factories and farms, as the unemployment rate in the self-ruled country falls to the lowest levels.

Both nations are expected to sign an employment mobility agreement by December. Arindam Bagchi, a spokesperson for India’s Ministry of External Affairs (MEA), also confirmed Thursday (Nov 10) that the Taiwan-India jobs pact was in the final stages of negotiation.

Taiwan’s Labour Crisis

Taiwan is expected to become a “super aged” society by 2025. It means that elderly people will account for more than 20 per cent of its population by that year.

India is looking to fill this labour gap in the East Asian economy, with a plentiful of young and talented workforce employable worldwide.

Taiwan’s ageing problem is a crisis-in-making, and to ward off its impacts on its strong economy, Indian workers might play a huge role.

Move Might Annoy China

The move by India is sure to anger China, which believes Taiwan is a part of the communist country.

China opposes any official exchanges with Taiwan. While the jobs pact with Taiwan doesn’t violate the so-called ‘one China policy’, New Delhi has not reiterated its stance for over a decade.

Taiwan has reportedly promised the Indian workers pay parity with locals and also insurance benefits. As of now, documentation regarding the health of Indian workers is being worked out.

India Pushing For Job Pacts

India, now the world’s most populous country, is aggressively pushing for job pacts with developed economies. This leads to a win-win situation where the host country finds it easier to overcome the labour crisis at home.

The job pacts also help India rein in the rising domestic unemployment levels, while also ramping up the potential of increased foreign remittances.

So far, New Delhi has signed such agreements with 13 nations, including the UK, Japan, France, and most recently Israel.

An earlier report stated that Israel was looking to hire 100,000 workers from India in a bid to replace Palestinians who were fired from jobs after the Israel-Hamas war broke out.