Employment Mobility Agreement

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Context

• The Indian and Taiwanese governments are expected to sign an employment mobility agreement by December this year.

The reason behind the Agreement

• The decision comes as Taiwan grapples with an aging population, necessitating a larger workforce.
• By 2025, Taiwan is projected to become a "super-aged" society, with the elderly constituting over a fifth of the population.

Step taken

• Taiwan is looking to hire at least one lakh Indian workers in various sectors, including factories, farms, and hospitals.
• The employment mobility agreement is a step in this direction.
• The Ministry of External Affairs confirmed that the India-Taiwan jobs pact is in its final stages of negotiation.
• Taiwan, where the unemployment rate has dropped to its lowest since 2000, will offer pay parity with locals and insurance policies to Indian workers to keep its $790 billion economy afloat.

READ ABOUT INDIA TAIWAN RELATIONS: https://www.iasgyan.in/daily-current-affairs/india-taiwan-relations