Amid growing uncertainty over the status of the semiconductor/chip universe, and fortunes of the Island nation at large, Taiwan has signed a memorandum of understanding with India. India and Taiwan agreed upon an MoU on migrant workers that is expected to lead the most populous nation becoming a source of labor for the island.
The labor ministry of Taiwan or Republic or China, as it is also known, announced that it will regulate the quantity of Indian workers permitted to enter the country. In addition the country will also determine the industries they will be assigned to. India has pledged to recruit and train these employees based on Taiwan's requirements.
Taiwan, apart from geo-political issues, is also subject to a major demographic crisis, that has affected most of its neighbours, including China, Japan and South Korean. With an ageing population and significantly low fertility rate, the size of the workforce is expected to shrink, while increasing the number of citizens dependent on federal welfare and care schemes. This makes India and what it has to offer, in terms of the sheer number of work-force a compelling avenue for Taiwan, that would look to fill the gap, while being sieged by myriad other issues.
Earlier, India also signed pacts with UAE, while PM Modi was on his visit to the Arab-country.
(With inputs from other publications)
