Maruti Suzuki says no immediate hit from China curbs on magnet exports
Maruti Suzuki, India's top carmaker, said on Monday there is no immediate impact on its car production from China's export curbs on rare earth magnets, a key component in electric and gasoline cars.
ADVERTISEMENT Indian car and component manufacturers told Prime Minister Narendra Modi's officials last week that auto production could grind to a halt within days due to Chinese export restrictions on rare earth magnets, Reuters reported.
The companies want the government to lobby Beijing to relax the curbs. A China move risked leaving Indian car production dead in its tracks
(You can now subscribe to our Economic Times WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
25 minutes ago
- Time of India
OpenAI awards $150k in grants to Indian non-profits
Bengaluru: OpenAI has expanded its AI for Impact Accelerator initiative in India, awarding $150,000 in grants to 11 non-profit organisations focused on developing AI solutions for healthcare, education, agriculture, and other underserved sectors. The majority of grants are being distributed as API credits. Operating under the newly created OpenAI Academy, the programme marks a year of collaboration with Indian non-profits leveraging AI for public good. Several participants have integrated OpenAI technology to enhance operational efficiency, improve user experience, and effect measurable change. Rocket Learning, for instance, utilises generative AI via WhatsApp to deliver early childhood content to parents and daycare workers, currently impacting four million children in 11 states. Noora Health, supporting families of patients in low-resource environments, has automated elements of its caregiver engagement, reducing nurses' message review workload and increasing the scale of families reached. Educate Girls employs AI to locate and reintegrate out-of-school girls in rural India. I-Stem has converted over 1.5 million web pages into accessible formats for visually impaired users. Pinky Promise, a reproductive health platform, enables a team of three doctors to manage care for 10,000 patients using its AI-powered chatbot, achieving a medication adherence rate of 92%.Further organisations in the cohort are working in agriculture, digital inclusion, public policy delivery, and skills development via AI-led personalisation. Philanthropic support comes from The Agency Fund, Tech4Dev, and OpenAI recently convened a workshop to help participants explore the latest model capabilities for population-scale to OpenAI, the initiative aligns with the objectives of the IndiaAI Mission, which seeks to democratise AI access and develop technology tailored to India's socio-economic context. Pragya Misra, who leads policy and partnerships for OpenAI in India, described the accelerator as part of the company's ongoing effort to root its technology in practical, real-world scenarios. She said the cohort is pushing forward inclusive innovation, tackling complex national issues through AI. OpenAI plans to admit additional India-based non-profits to the programme later this year and mentioned that new initiatives for the region are in progress.
India Today
32 minutes ago
- India Today
What are Labubu Dolls? TikTok's viral collectible is selling out fast
A quirky series of cuddly dolls known as Labubu has gone viral, becoming the newest sensation on TikTok. The beast-like creatures — defined by crocodile-like teeth and playfully evil grins — are made by Chinese toy shop Pop Mart and have gained a global audience of resellers, collectors, and reported by Forbes, Labubu dolls usually cost between $20 and $30 and come in "blind boxes," meaning customers don't know what variant they will receive until the box is opened. The element of surprise is particularly the elusive secret versions with a 1-in-72 chance of discovery — has fueled a hot unboxing trend on TikTok, where the hashtag #labubu has more than 1 million posts craze is not just spontaneous. Famous personalities such as Rihanna, Dua Lipa, and BLACKPINK members have been spotted with Labubu dolls, further boosting the toy's popularity. Since demand outpaces supply, resellers are taking advantage of this. Limited-run Labubu toys are available online for thousands of dollars, with some selling as high as $7,000 on eBay. Bids on some variations, like the Vans collaboration, are reaching over $3,000 on of the CrazeAccording to Forbes, Labubu was developed by Dutch-born, Hong Kong-resident artist Kasing Lung based on Nordic mythology. It appeared in Lung's 2015 publication, The Monsters Trilogy, and was commercialized through a 2019 licensing agreement with Pop China, customs officers recently seized over 460 Labubu dolls from smugglers who intended to resell them. The Labubu phenomenon mirrors earlier TikTok-fueled crazes, including the Stanley Cup craze, which also involved fighting, theft, and a thriving black market.
Indian Express
an hour ago
- Indian Express
Chill in ties, window closing for Canada invitation to G7 summit
With less than two weeks to go for the start of the G7 Summit, being hosted by Canada in Kananaskis in Alberta from June 15-17, India is still to receive an invitation to the gathering. If the invitation window closes, Delhi's absence at the summit will be the first break since 2019. Barring 2020 when the G7 huddle was cancelled by the US, the host country, Prime Minister Narendra Modi has attended every summit since 2019. The chill in Delhi-Ottawa ties has not gone unnoticed. The two countries downgraded diplomatic ties after Justin Trudeau, the then Canadian Prime Minister, set off a political storm in 2023 when he alleged 'potential' involvement of Indian government agents in the killing of a Canada-based Khalistan separatist, Hardeep Singh Nijjar. India rejected the charges as 'absurd' and 'motivated'. Usually, G7 host countries invite some countries as guest countries or outreach partners. Canada has so far invited Ukraine and Australia. It has not released names of other guest countries. France was the host of the G7 leaders' summit in Biarritz in August 2019 — after Modi became Prime Minister in 2014, this was the first invitation. Before that, Prime Minister Manmohan Singh had attended the G8 summit five times between 2004 and 2014 — the grouping became the G7 in 2014 after Russia's suspension, and subsequent exit, over its annexation of Crimea. In 2020, US President Donald Trump called the G7 a 'very outdated group' and said he would like to include India, Australia, South Korea and Russia in the grouping of the largest advanced economies. Trump had suggested that the Group of 7 be called 'G10 or G11', and proposed that the grouping meet in September or November 2020. But due to the pandemic and the US elections, that did not happen. Modi attended the G7 summit in 2021 via virtual mode, and then attended the summits in Germany in 2022, Japan in 2023 and Italy in 2024. This May 25, Canada's new Foreign Minister Anita Anand had a phone conversation with External Affairs Minister S Jaishankar. It was the first official political-level contact between Delhi and Ottawa after Mark Carney won the Canadian elections and became Prime Minister, raising hopes for a reset in ties. Anand said Canada looked forward to rebuilding ties with India as part of an effort to diversify trade away from the US — even as the RCMP investigation into the killing of Canadian Hardeep Singh Nijjar continued. In an interview, referring to Nijjar's killing, she said: 'We are certainly taking it one step at a time. As I mentioned, the rule of law will never be compromised, and there is an ongoing investigation regarding the case that you mentioned.' 'At the same time, we are looking forward to continuing to build this partnership, and we're looking forward to that as a government – it's not just me…It's part of the process of diversifying our relationships and building relationships around the world,' she said. Going by the timelines for the G7 summit — the fact that very little time is left for an invitation and security and liaison teams usually travel to the venue ahead of the Prime Minister's visit — there is a slim chance of Modi attending the G7 summit even if the invitation comes now. But if an invitation is extended, there is a possibility that a minister or a government representative may attend. A call on that will only be taken after the invitation is received. Shubhajit Roy, Diplomatic Editor at The Indian Express, has been a journalist for more than 25 years now. Roy joined The Indian Express in October 2003 and has been reporting on foreign affairs for more than 17 years now. Based in Delhi, he has also led the National government and political bureau at The Indian Express in Delhi — a team of reporters who cover the national government and politics for the newspaper. He has got the Ramnath Goenka Journalism award for Excellence in Journalism '2016. He got this award for his coverage of the Holey Bakery attack in Dhaka and its aftermath. He also got the IIMCAA Award for the Journalist of the Year, 2022, (Jury's special mention) for his coverage of the fall of Kabul in August 2021 — he was one of the few Indian journalists in Kabul and the only mainstream newspaper to have covered the Taliban's capture of power in mid-August, 2021. ... Read More
