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Datanomics: India looks at options amid crunch of rare earth materials
China and the United States produced nearly 70 per cent and 11.5 per cent of the world's production of rare earth elements (REEs) respectively in 2024
Yash Kumar Singhal New Delhi
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The Centre recently asked IREL, a public sector undertaking (PSU), to suspend a 13-year-old agreement on export of rare earth elements (REEs) to Japan to safeguard supplies for domestic needs. This comes in the wake of Chinese restrictions on the export of seven rare earth metals (REMs) and rare earth magnets, which has put the Indian automotive and electronics industry in a precarious position, crippling their production and supply.
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China and the United States respectively produced nearly 70 per cent and 11.5 per cent of the world's production of REEs in 2024. Myanmar produced around 31,000 tonnes (eight per
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