Taiwan shows interest in buying rare earth minerals from India: TAITRA Dy Director

By Kaushal Verma

New Delhi [India], September 17 (ANI): Taiwan possesses the technology to manufacture products using rare earth minerals, but needs India's resources to collaborate effectively.

Speaking with ANI, Keven Cheng, Deputy Director of TAITRA, said that Taiwan is keen on sourcing rare earth minerals from India. Rare earth elements are vital for sectors like electric vehicles, renewable energy, and defence.

"We have the technology to make some products, but we need the materials in India so that we can work together," Cheng told ANI on the sidelines of the Taiwan Expo 2025.

India is believed to hold around 6.9 million metric tons of rare earth reserves, making it the world's third-largest reserve holder. This vast resource, if fully tapped, could position India as a key long-term supplier.

Taiwan and India can complement each other, with Taiwan's manufacturing tech and India's talent pool and resources. Speaking on semiconductors, he said that semiconductor companies in Taiwan, the world's largest manufacturer, will invest in India and aim for huge production in the coming year.

"Taiwan has PSMC. They will cooperate with Tata. They will do the mass production next year," Cheng told ANI.

PSMC (Powerchip Semiconductor Manufacturing Corporation) is a major Taiwanese semiconductor foundry specialising in memory and logic chips, founded in 1994 and headquartered in Hsinchu, Taiwan.

The Indian Ministry of Mines has been working to ensure supply chain resilience for critical minerals, including Rare Earth Elements, as they are key materials for sectors such as electric vehicles, renewable energy and defence.

The Ministry of Mines is also engaging on various multilateral and bilateral platforms, such as the Minerals Security Partnership (MSP), the Indo-Pacific Economic Framework (IPEF), and the initiative on Critical and Emerging Technologies (iCET), to strengthen the critical minerals value chain.

Taiwan produces around 60 per cent of the world's total semiconductors, and India has just paved its way in this sector.

"Micro-semiconductor, like applied materials, they just invest in India. So I think in the near future, more and more semiconductor supply chains will go to the India market to create a semiconductor cluster. I think the Taiwanese companies will go to India too," he said.

Cheng also stated that amid tariff challenges and global supply chain realignments, India's vast domestic market, abundant talent pool, and strategic location have made it an indispensable new manufacturing hub for Taiwanese enterprises.

"Now we just see because most of our exports are into the US market. Now our government, maybe they will figure out some solutions to help the companies who are impacted by the tariff," he said, adding that "So in TAITRA's position, we will arrange more and more events around the world and we will get some subsidies from the government to help these kinds of companies."

Talking about bilateral trade, he said that the industry in Taiwan and India is complementary.

"We have some way for manufacturing technology, and you have a talent pool. So maybe in the future we can cooperate together to face the challenge in the industry," he said.

Since its launch in 2018, Taiwan Expo has been held for eight consecutive years, underscoring the foresight of government efforts to help enterprises diversify their markets. It has become a vital platform for Taiwanese companies to expand in India, with both sides already achieving results in areas such as semiconductors, electronics manufacturing, ICT, and smart machinery.

Talking at Taiwan Expo, he said "this is the 8th edition in India since 2018 to assist the Taiwanese companies, to strengthen ties with India companies and to work together to face the environmental challenge like the reciprocal tariff." (ANI)

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