Next Article
Govt tackles China's rare earth import issue
India
India is scrambling to secure rare earth magnets after China announced new export controls on key metals like samarium and gadolinium—materials essential for things like electric vehicles and smartphones.
The restrictions kick in from April 4, putting pressure on industries that rely heavily on these imports.
India's Commerce and External Affairs ministries are talking with Chinese
To keep things moving, India's Commerce and External Affairs ministries are talking with Chinese officials and helping local manufacturers navigate the new rules.
Import license requests from Indian companies have already doubled, showing just how crucial these magnets are.
Since China handles over 90% of global processing for these materials, India's main focus is making sure supply chains stay steady despite the new hurdles.