China's rare earth export curbs hit Indian EV industry; govt explores alternatives
rare earth magnets
has created supply chain bottlenecks for Indian industries, including electric vehicle (EV) manufacturers, the government informed Parliament on Tuesday,
PTI
reports.
In a written reply to the Lok Sabha, Minister of State for Commerce and Industry
Jitin Prasada
said consultations with stakeholders are underway to address the disruption. Rare earth magnets are crucial components for EVs, electronics, and other high-tech applications.
Prasada noted that the Ministry of Mines is working to strengthen supply chain resilience for critical minerals, with bilateral agreements already signed with resource-rich nations such as Australia, Argentina, Zambia, Peru, Zimbabwe, Mozambique, Malawi and Côte d'Ivoire. The ministry is also collaborating with international organisations, including the International Energy Agency.
To secure overseas assets, Khanij Bidesh India Ltd — a joint venture set up to identify and acquire strategic minerals — is actively pursuing partnerships with global players.
According to media reports on Tuesday,
China lifted its restrictions on exports of rare earth magnets to India
. Chinese Foreign Minister Wang Yi has also assured External Affairs Minister S Jaishankar that Beijing would work to resolve three issues raised by India- the supply of rare earth magnets, fertilisers, and tunnel boring machines. Shipments of these items have already resumed, media reports suggested.
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