India-Taiwan Economic Relations: Charting a New Path

Abstract

People’s Republic of China (PRC) has leveraged globalisation to its advantage and has emerged as the manufacturing platform of the world. However, behind China’s “economic miracle” is a very important role played by Taiwan. As economic growth slows in the PRC, it becomes imperative for Taiwan to look for alternatives. India, with its “Make in India” campaign, could become a lucrative destination for investment from Taiwan. This paper analyses economic initiatives undertaken to understand where economic ties between India and Taiwan are headed. Complementarities between the Act East policy and the New Southbound Policy are also discussed. Sources of data for this work are Bureau of Foreign Trade (Taiwan), Export-Import Bank (India) and National Bureau of Statistics (People’s Republic of China), besides secondary sources.

Keywords

• india
• taiwan
• economic relations
• act east
• new southbound policy