China greenlights rare earth magnet exports to India after freeze
After a six-month freeze, China has approved export applications for rare earth magnets to four Indian companies, such as Jay Ushin and De Diamond Electric India.
This move comes after some diplomatic intervention from India, including during Foreign Minister S Jaishankar's visit to China in July.
These magnets are a big deal for Indian carmakers and electronics brands—they power everything from EV motors to high-end gadgets.
Other companies still waiting for approvals
Even with this progress, about 30 other Indian companies are still stuck in the queue for Chinese export licenses.
To get approved, firms have to prove exactly how they'll use the magnets and promise not to resell them.
With China controlling nearly 90% of global rare earth supply—and using these resources as leverage in trade talks—the world is watching closely.