While a Free Trade Agreement remains the gold standard for trading relationships Taiwan aspires, the possibility of an India-Taiwan FTA is not on the card. Its absence does not mean trade relations and opportunities cannot be advanced, suggests a former foreign secretary. As a vibrant democracy, a top producer of the most advanced microchips and the 21st largest economy in the world, Taiwan has strived to bolster supply chain resilience with India and other partner countries.
While Taiwan-India bilateral trade reached an all-time high of US$7.7 billion in 2021, that figure only accounts for a fraction of the respective annual foreign trade — only 0.9% in Taiwan’s external trade & 0.8% of India’s…