India and Taiwan have engaged in economic and trade relations with each other for almost 3 decades. The objective of this research is to seek out how both nations could benefit mutually from increased trade in merchandise goods. Furthermore, it lays emphasis on the obstacles faced in the smooth functioning of the economic relationship as well as the steps that could be taken to resolve them. Finally, the case study of India’s trade with Korea has been utilized in the research for a more comprehensive understanding of similarities and the differences in the Korean and Taiwanese experience with India.