Latest news with #MinistryofHeavyIndustries
&w=3840&q=100)
Business Standard
5 days ago
- Automotive
- Business Standard
China's rare earth curbs: No relief for EV cos as govt pushes localisation
The directive came amid growing industry concern over supply chain constraints following China's April 4 move to restrict exports of rare earth magnets Deepak Patel New Delhi Listen to This Article The Ministry of Heavy Industries, through its vehicle-testing agencies, on Thursday instructed electric two- and three-wheeler manufacturers to formally declare they have adequate rare earth magnet inventories and are producing key components — traction motors and electronic throttles — locally, as required under the PM E-DRIVE scheme, Business Standard has learnt. The directive came amid growing industry concern over supply chain constraints following China's April 4 move to restrict exports of rare earth magnets —critical inputs in traction motors. Automakers had been anticipating temporary relief from localisation rules, arguing indigenisation of certain auto parts in the current scenario was unviable.
India.com
7 days ago
- Business
- India.com
China to get sleepless nights as Modi government makes Big move into Rare Earth magnets production, Rs 13450000000 to...
The demand for rare earth minerals is increasing quickly across the globe. These minerals contribute to several applications, like smartphones, electric vehicles, defense apparatus, and renewable energy technologies. Earlier in July, Union Minister of Heavy Industry and Steel HD Kumaraswamy stated that the Central government has drafted a proposal to offer a total of Rs 1,345 crore in subsidies to improve rare earth magnet manufacturing. This announcement is intended to strengthen critical technology supply chains in the context of restrictions placed on exports, primarily from China. Kamran Rizvi, the Secretary at the Ministry of Heavy Industries, has said that a draft scheme for rare earth magnet processing has been circulated for inter-ministerial consultation. The scheme is likely to provide incentives for establishing manufacturing infrastructure in the full value chain – mineral extraction and refining to manufacture of finished magnets. Kamran Rizvi, Secretary at the Ministry of Heavy Industries, stated that any manufacturer who does the end-to-end processing of rare earth oxides to finished magnets can receive the subsidy. This scheme will include both private and public sector enterprises. China's overwhelming control of global rare earth processing – commanding over 90 per cent of the world's magnet production capacity–has created significant vulnerabilities for industries worldwide. These materials are critical across multiple sectors, including automobiles, home appliances, and clean energy systems.
Economic Times
17-07-2025
- Automotive
- Economic Times
Govt begins formulation of Automotive Mission Plan 2047 to establish India as global auto leader
The government has initiated the formulation of the Automotive Mission Plan 2047 (AMP 2047), a strategic road map aligned with the 'Viksit Bharat @2047' vision to establish India as a global automotive leader, focusing on innovation and sustainability, the Ministry of Heavy Industries said on Thursday. Sub-committees for AMP 2047 have held a meeting to outline objectives and framework and targets for sectoral growth, exports and industry advancement, to help increase India's share in global automotive trade. Seven sub-committees, comprising experts from government, industry, and academia, will guide the development of a comprehensive plan targeting milestones for 2030, 2037, and 2047. "The vision for 2047 is not an aspiration but a strategic road map backed by concrete targets for sector growth, exports, and industry advancement. We must think beyond specific technologies or companies and focus on India's global standing in 2047, aiming to increase our share in global automotive trade through innovation and quality," Additional Secretary in the Heavy Industries Ministry Hanif Qureshi said. The initiative involves various ministries, industry bodies (SIAM, ACMA, CII), academia, and testing agencies for an industry-led effort. "The Ministry of Heavy Industries, Government of India, under the visionary leadership of Prime Minister Narendra Modi, and with the guidance of Minister for Heavy Industries and Steel H D Kumaraswamy has initiated the formulation of the Automotive Mission Plan 2047 (AMP 2047), a strategic roadmap aligned with the 'Viksit Bharat @2047' vision. The inaugural meeting of the AMP 2047 Sub-Committees was held to outline the objectives and framework," an official statement said. AMP 2047 seeks to integrate the collective vision of stake-holders, including Original Equipment Manufacturers (OEMs), auto component manufacturers, policy-makers, academia and end users, to address challenges like technological advancements and charging infrastructure, the Heavy Industries Ministry stated. The meeting was attended by representatives from various ministries, including the Ministry of Power, Ministry of Road Transport and Highways, Ministry of Commerce, Ministry of Petroleum and Natural Gas, DPIIT, Ministry of Environment Forest and Climate Change and industry bodies such as SIAM, ACMA, and CII, FICCI, academic institutions, research think tanks and testing agencies. The AMP 2016-2026 (AMP 2026) is aimed at bringing the Indian Automotive Industry among the top three of the world in engineering, manufacture and exports of vehicles & components; growing in value to over 12 per cent of India's GDP and generating an additional 65 million jobs.
&w=3840&q=100)
Business Standard
17-07-2025
- Automotive
- Business Standard
Govt starts work on Auto Mission Plan to make India global industry leader
The government has initiated the formulation of the Automotive Mission Plan 2047 (AMP 2047), a strategic road map aligned with the 'Viksit Bharat @2047' vision to establish India as a global automotive leader, focusing on innovation and sustainability, the Ministry of Heavy Industries said on Thursday. Sub-committees for AMP 2047 have held a meeting to outline objectives and framework and targets for sectoral growth, exports and industry advancement, to help increase India's share in global automotive trade. Seven sub-committees, comprising experts from government, industry, and academia, will guide the development of a comprehensive plan targeting milestones for 2030, 2037, and 2047. "The vision for 2047 is not an aspiration but a strategic road map backed by concrete targets for sector growth, exports, and industry advancement. We must think beyond specific technologies or companies and focus on India's global standing in 2047, aiming to increase our share in global automotive trade through innovation and quality," Additional Secretary in the Heavy Industries Ministry Hanif Qureshi said. The initiative involves various ministries, industry bodies (SIAM, ACMA, CII), academia, and testing agencies for an industry-led effort. "The Ministry of Heavy Industries, Government of India, under the visionary leadership of Prime Minister Narendra Modi, and with the guidance of Minister for Heavy Industries and Steel H D Kumaraswamy has initiated the formulation of the Automotive Mission Plan 2047 (AMP 2047), a strategic roadmap aligned with the 'Viksit Bharat @2047' vision. The inaugural meeting of the AMP 2047 Sub-Committees was held to outline the objectives and framework," an official statement said. AMP 2047 seeks to integrate the collective vision of stake-holders, including Original Equipment Manufacturers (OEMs), auto component manufacturers, policy-makers, academia and end users, to address challenges like technological advancements and charging infrastructure, the Heavy Industries Ministry stated. The meeting was attended by representatives from various ministries, including the Ministry of Power, Ministry of Road Transport and Highways, Ministry of Commerce, Ministry of Petroleum and Natural Gas, DPIIT, Ministry of Environment Forest and Climate Change and industry bodies such as SIAM, ACMA, and CII, FICCI, academic institutions, research think tanks and testing agencies. The AMP 2016-2026 (AMP 2026) is aimed at bringing the Indian Automotive Industry among the top three of the world in engineering, manufacture and exports of vehicles & components; growing in value to over 12 per cent of India's GDP and generating an additional 65 million jobs.
Time of India
17-07-2025
- Automotive
- Time of India
Centre sets ball rolling for India's Automotive Mission Plan 2047
The Ministry of Heavy Industries has initiated the formulation of the Automotive Mission Plan 2047 (AMP 2047) aimed at enhancing innovation, global competitiveness, and sustainable development to establish India as a global automotive leader by 2047, according to an official statement issued on Thursday. The initiative is a strategic roadmap aligned with the 'Viksit Bharat @2047' vision, building on the achievements of previous Automotive Mission Plans, which promoted the significant growth in India's automotive sector through stakeholder collaboration, the statement explained. The inaugural meeting of the AMP 2047 Sub-Committees was held here to outline the objectives and framework. Additional Secretary, Ministry of Heavy Industries, Hanif Qureshi, said, "The vision for 2047 is not an aspiration but a strategic roadmap, backed by concrete targets for sector growth, exports, and industry advancement. We must think beyond specific technologies or companies and focus on India's global standing in 2047, aiming to increase our share in global automotive trade through innovation and quality." Representatives from various ministries, including the Ministry of Power, Ministry of Road Transport and Highways, Ministry of Commerce, Ministry of Petroleum and Natural Gas, DPIIT, Ministry of Environment Forest and Climate Change and industry bodies such as SIAM, ACMA, and CII, FICCI, academic institutions, research think tanks and testing agencies attended the meet to start an industry-led effort to shape AMP 2047. The initiative seeks to integrate the collective vision of stakeholders, including Original Equipment Manufacturers (OEMs), auto component manufacturers, policymakers, academia, and end users, to address challenges like technological advancements and charging infrastructure. Seven Sub-Committees, comprising experts from government, industry, and academia, will guide the development of a comprehensive plan targeting milestones for 2030, 2037, and 2047. The Ministry, under the guidance of Minister for Heavy Industries H. D. Kumaraswamy, underscores its commitment to building a self-reliant, innovative, and sustainable automotive ecosystem. Multiple Sub-Committee meetings will consolidate ideas and data for presentation to the Apex Committee, chaired by Kamran Rizvi, Secretary, Ministry of Heavy Industries, the statement added.
