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India.com
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China was a big supplier of rare earth minerals for automobile sectors in the world. Recently it had put several restrictions on their exports. These minerals are in high demand globally, including in India and the United States. The shortage of magnets made from these minerals disrupted several industries. Now India has made a big plan to counter China's monopoly. India's Plan For Rare Earth Mineral Production The Indian government is formulating a Rs 3,500–5,000 crore plan to enhance the production of rare earth minerals. According to an Economic Times report citing government officials, the proposal may get approval soon. The official stated, 'Our priority is to start the production of critical minerals in the country as quickly as possible.' As per The Economic Times , the plan involves offering incentives to companies through a reverse auction process. This means that the company which is willing to produce at the lowest cost will receive the incentive. The decision is to reduce dependency on Chinese imports. The official further stated that new measures are being implemented to increase the domestic availability of critical minerals. At least five major Indian companies have shown interest in collaborating with the government for the production of these minerals. China's Monopoly on Rare Earth Magnets China currently has a monopoly on the supply of rare earth magnets, essential for automobiles, electric vehicles (EVs), and renewable energy infrastructure. The Chinese government has imposed several export restrictions on these minerals. In April, it mandated special licenses for the export of seven rare earth elements and related magnets. In India, EV manufacturers and wind turbine companies are the largest consumers of rare earth elements. By 2025, these companies are expected to account for more than half of the country's total demand. The demand for these minerals is projected to grow from the current 4,010 metric tons to 8,220 metric tons by 2030.
Time of India
4 hours ago
- Time of India
Foxconn to make 'new component' for iPhones in India that has so far been Tata Electronics' 'exclusive' locally: What makes it important after Trump's 25% Tariff threat
Foxconn is gearing up to manufacture iPhone metal casings in India, ending Tata Electronics' monopoly on local production. This move aligns with Apple's strategy to diversify its supply chain amid geopolitical tensions and potential tariffs. While the immediate impact is limited, it signifies Apple's commitment to building a comprehensive manufacturing ecosystem in India. Apple supplier Foxconn is preparing to produce iPhone metal casings in India for the first time, breaking Tata Electronics ' exclusive hold on this component manufacturing locally. The move comes as Apple deepens its Indian operations amid President Trump 's recent threat of 25% tariffs on iPhones not manufactured in the United States. According to The Economic Times, Foxconn is establishing a dedicated unit at ESR Industrial Park in Oragadam, Tamil Nadu, specifically for iPhone enclosure production. Until now, the company's Indian operations focused primarily on iPhone assembly at its Sriperumbudur facility, along with AirPods assembly in Hyderabad. Strategic diversification amid geopolitical tensions The timing appears significant following Trump's Truth Social warning to Apple CEO Tim Cook , demanding iPhone production move to America or face substantial tariffs. "I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else," Trump posted. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Despite the political pressure, Apple continues expanding its Indian manufacturing footprint. The enclosure production represents part of Apple's broader supply chain diversification strategy, reducing dependence on any single region or supplier. Limited immediate impact but long-term significance While iPhone casings constitute only 2-3% of the device's total bill of materials, industry analysts view this as strategically important. Neil Shah from Counterpoint Research noted in ET's report that even with enclosure production, Foxconn's total India-based value addition will likely remain below 10%. "This aligns well with Apple's broader strategy to derisk and diversify its supply chain," Prabhu Ram from CyberMedia Research. told The Economic Times. "As India emerges as a lynchpin in Apple's growth momentum, it is a natural progression for Foxconn to expand its capabilities." Construction on the new facility has already begun at the same industrial park housing Foxconn's upcoming display module assembly plant. The development signals Apple's commitment to building an end-to-end manufacturing ecosystem in India, regardless of Washington's demands for American production. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
