India and Taiwan have signed an agreement to allow Indian migrant workers to enter Taiwan and address the labor shortage. Taiwan, known for its semiconductor production, currently relies on migrant workers from Southeast Asian countries. The memorandum of understanding has been signed, but details are yet to be finalized. This move is influenced by India’s strained relationship with China.
The Employees’ Provident Fund Organisation (EPFO) in India added a record 1.87 million net subscribers in July, marking a surge in formal job creation. However, formal jobs created under the Employees’ State Insurance Corporation (ESIC) fell by 1.9% to 1.98 million in July. The data indicates a trend of increasing youth employment, with 58.4% of new workers falling in the 18-25 age bracket.
