EFSAS Study Paper: India & Taiwan Relations in the Indo-Pacific Era
March 5, 2024
The progress in the non-formal diplomatic relationship has been accompanied by improvements in the bilateral economic relationship since the 1990s. In 2000, the bilateral trade volume stood at one billion US$ - by 2019, the volume had grown to seven billion US$ in total. Trade dropped to just under six billion US$ in 2020 in response to the market shocks of the COVID pandemic but had recovered to 7.7 billion US$ in 2022. On the Indian side, exports to Taiwan are primarily made up out of mineral fuels, mineral oils, iron and steel, organic chemicals, and cotton. Taiwan primarily exports high-end manufactured goods to India, including electrical machinery and equipment, nuclear reactors, plastics, and organic chemicals.
