Indian companies propose domestic magnet supply chains
After China tightened its export rules for rare earth magnets—key parts in electric vehicles (EVs)—Indian firms like Midwest Advanced Materials, Entellus Industries, and IREL have pitched plans to start making these magnets locally.
Their proposal is now with the Ministry of Heavy Industries, aiming to keep India's EV sector running smoothly even when global supplies get shaky.
India depends almost entirely on China for these special magnets
Right now, India depends almost entirely on China for these special magnets, which power everything from EV motors to high-tech gadgets.
Delays from China have already slowed down big names like Bosch and TVS Group.
If these new plans work out—with some hefty government support—India could finally build its own supply chain and make future EVs less vulnerable to global hiccups.