Latest news with #Tec-Verse
Time of India
7 hours ago
- Automotive
- Time of India
Govt, industry, academia working to resolve issues concerning rare earth magnets: Meity official
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The government, industry and academia are working to resolve the issues concerning rare earth magnets , which are used in the automobile sector and other devices, a senior Meity official said on technology exists to make rare earth magnets but to produce them at a commercially competitive rate is a challenge, Ministry of Electronics and IT, Additional Secretary, Amitesh Sinha on the sidelines of the Tec-Verse event showcasing PSU technology research, Sinha said that to solve the issues concerning rare earth, all three partners - government, industry and academia - are doing their work."Technology is there, but we have to see how commercially we can do it at a competitive price. So that is the main challenge. The government will surely work because these things are now becoming strategic and important," Sinha Centre for Materials for Electronics Technology ( C-MET ), a research unit under Meity, at the event signed a transfer of technology agreement with Ahmedabad-based firm Somal Magnets for the production of rare earth said the work on the technology development has been going on for some years as the government realises the importance of material technologies."It is an effort of the last few years. So they (C-MET) have already been working on it, but suddenly the focus has come on this rare earth material. For such things, first we will have to develop a capability which, at the time of crisis, can be easily scaled. So that kind of infrastructure or capability we are aiming for now," Sinha however, said Meity is not directly engaged in the production of rare earth magnets but only in some technologies that are important for their April 2024, China implemented strict export licensing on rare earth elements like terbium and dysprosium - key inputs for high-level performance NdFeB ( Neodymium-Iron-Boron ) magnets used in consumer country's oldest electronics industry body, Elcina, said that the move has disrupted global supply chains, hitting India's fast-growing hearables and wearables sector hard, and the device makers are switching to import fully assembled speaker modules from estimates that the rare earth metal-based magnets account for around 5-7 per cent of the Bill of Materials, and India imports nearly 100 per cent of its NdFeB magnet requirement, with China accounting for 90 per cent of the total industry body said prices of China-origin magnets have increased due to tightened supply and administrative bottlenecks, and alternate sources, such as Japan, the European Union and the US, are 2-3 times more expensive and also lack sufficient capacity to meet India's rising earth magnets include neodymium-iron-boron (NdFeB). It is used for high-performance automotive applications such as traction motors in electric vehicles (two-wheelers and passenger vehicles) and power steering motors (in passenger vehicles) in both electric vehicles and internal combustion engine vehicles.
Time of India
7 hours ago
- Automotive
- Time of India
India's rare earth magnet push: Government, industry & academia join forces to ramp up manufacturing; move to counter China's export curbs
This is an AI-generated image, used for representational purposes only. India is accelerating its efforts to develop domestic capabilities in rare earth magnet production as global supply chain disruptions triggered by China's export restrictions continue to strain key industries like automobiles and electronics. Speaking at the Tec-Verse event on Friday, ministry of electronics and IT additional secretary Amitesh Sinha said the government, industry, and academia are working jointly to address the challenges in manufacturing rare earth magnets at competitive prices. 'Technology is there, but we have to see how commercially we can do it at a competitive price. So that is the main challenge,' said Sinha as quoted by news agency PTI, highlighting the strategic importance of these materials. 'The government will surely work because these things are now becoming strategic and important,' he added. At the event, the Centre for Materials for Electronics Technology (C-MET), under Meity, signed a technology transfer agreement with Somal Magnets, an Ahmedabad-based firm, for rare earth magnet production. Sinha clarified that while Meity is not directly engaged in production, it is actively involved in developing critical technologies for the manufacturing process. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 반지 그 이상의 가치를 월 2만 원으로 만나보세요 굿네이버스 더 알아보기 Undo Rare earth magnets, particularly neodymium-iron-boron (NdFeB), are essential for high-performance applications such as traction motors in electric vehicles, power steering systems, and consumer electronics. Currently, India imports nearly 100% of its NdFeB magnet requirement, with China accounting for around 90% of these imports, according to PTI. However, since April 2024, China has tightened export licensing norms for critical rare earth elements like terbium and dysprosium, both essential for NdFeB magnets. This move has disrupted global supply chains, especially affecting India's fast-growing electronics sector. Industry body Elcina noted that the price of Chinese-origin magnets has risen and that alternatives from countries like Japan and the EU are 2-3 times more expensive and lack the capacity to meet India's rising demand. 'We are now aiming to develop infrastructure and capability that can be scaled during a crisis,' Sinha explained, noting that efforts to advance magnet technologies have been ongoing but have gained urgency in recent months. According to ANI, the ministry of external affairs confirmed that India is in dialogue with China to streamline rare earth supply chains, while the commerce ministry is engaging with industry bodies like SIAM and ACMA to assess the auto sector's exposure. Commerce secretary Sunil Barthwal noted that the government is 'making all efforts to ensure essential imports' and described the situation as part of a larger global challenge, not India-specific. Commerce minister Piyush Goyal has termed China's export control move a global 'wake-up call' and emphasised India's commitment to becoming a trusted partner for businesses seeking to diversify away from Chinese supply chains. With Crisil Ratings recently warning that prolonged disruptions could stall electric vehicle launches and impact sectoral growth, the Centre's push for self-reliance in rare earth magnet manufacturing is being seen as both urgent and strategic. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
&w=3840&q=100)
Business Standard
8 hours ago
- Business
- Business Standard
Govt, industry working to address rare earth magnet issues: Meity official
The government, industry and academia are working to resolve the issues concerning rare earth magnets, which are used in the automobile sector and other devices, a senior Meity official said on Friday. The technology exists to make rare earth magnets but to produce them at a commercially competitive rate is a challenge, Ministry of Electronics and IT, Additional Secretary, Amitesh Sinha said. Speaking on the sidelines of the Tec-Verse event showcasing PSU technology research, Sinha said that to solve the issues concerning rare earth, all three partners - government, industry and academia - are doing their work. "Technology is there, but we have to see how commercially we can do it at a competitive price. So that is the main challenge. The government will surely work because these things are now becoming strategic and important," Sinha said. The Centre for Materials for Electronics Technology (C-MET), a research unit under Meity, at the event signed a transfer of technology agreement with Ahmedabad-based firm Somal Magnets for the production of rare earth magnets. Sinha said the work on the technology development has been going on for some years as the government realises the importance of material technologies. "It is an effort of the last few years. So they (C-MET) have already been working on it, but suddenly the focus has come on this rare earth material. For such things, first we will have to develop a capability which, at the time of crisis, can be easily scaled. So that kind of infrastructure or capability we are aiming for now," Sinha said. He, however, said Meity is not directly engaged in the production of rare earth magnets but only in some technologies that are important for their production. In April 2024, China implemented strict export licensing on rare earth elements like terbium and dysprosium - key inputs for high-level performance NdFeB (Neodymium-Iron-Boron) magnets used in consumer electronics. The country's oldest electronics industry body, Elcina, said that the move has disrupted global supply chains, hitting India's fast-growing hearables and wearables sector hard, and the device makers are switching to import fully assembled speaker modules from China. Elcina estimates that the rare earth metal-based magnets account for around 5-7 per cent of the Bill of Materials, and India imports nearly 100 per cent of its NdFeB magnet requirement, with China accounting for 90 per cent of the total imports. The industry body said prices of China-origin magnets have increased due to tightened supply and administrative bottlenecks, and alternate sources, such as Japan, the European Union and the US, are 2-3 times more expensive and also lack sufficient capacity to meet India's rising demand. Rare earth magnets include neodymium-iron-boron (NdFeB). It is used for high-performance automotive applications such as traction motors in electric vehicles (two-wheelers and passenger vehicles) and power steering motors (in passenger vehicles) in both electric vehicles and internal combustion engine vehicles. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
