Andhra Pradesh is spearheading an ambitious initiative to establish a fully integrated beach sand minerals, rare earth, and titanium ecosystem, aiming to attract over 50,000 crore in investments over the next decade. This move is part of India's broader strategy to reduce its reliance on China for strategic minerals and permanent magnets, with the state preparing a comprehensive rare earth policy and planning specialised industrial clusters.
Western Coalfields Limited (WCL) has discovered significant concentrations of rare earth elements and critical minerals in its mines in Maharashtra, potentially transforming waste material into revenue-generating resources and diversifying the company's business.
'Despite assurance from China, none of the companies have received supplies from Chinese sellers.'
Major foreign mining and refining companies have assured the Indian government that they will have sufficient stocks of rare-earth oxides to supply to the winning bidders under the country's production-linked incentive (PLI) scheme for indigenous manufacturing of rare-earth permanent magnets (REPMs), Business Standard has learnt.
Hyundai Motor India on Wednesday said the company is not facing any production issues due to the shortage of rare earth magnets. Replying to a query in the company's earnings conference call, Hyundai Motor India head of investor relations K S Hariharan noted that the company is maintaining an adequate inventory of the rare earth magnets.
China accounts for about 70 per cent of global rare earth mining and nearly 90 per cent of rare earth magnet production, making it a dominant player and giving it significant leverage in global supply chains.
Electric two-wheeler (e2W) companies are upset with some of their suppliers of heavy rare-earth magnet-powered electric motors, who have objected to their proposal - under consideration by the government - that would allow e2W original equipment manufacturers (OEMs) an exemption from localisation norms on electric motors, thereby enabling them to continue receiving the 5,000-per-vehicle subsidy.V
The government on Wednesday approved a Rs 7,280 crore scheme to promote manufacturing of rare earth permanent magnets, a move which would help reduce India's dependence on China.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
The Centre has notified the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM) with an outlay of Rs 7,280 crore. The initiative is targeting to reduce dependence on China for critical inputs and secure supply chains for EVs, electronics, aerospace and green energy.
Dysprosium and terbium, two heavy rare earth elements with unique properties, are not available in extractable quantities in India.
Mahindra & Mahindra plans to manage rare earth magnet supplies through alternative sourcing channels for the next nine months and will pursue 'engineering efforts' to address the raw material shortage situation amid growing product portfolio, according to a senior company executive. The imposition of export restrictions by China on key rare earth magnets has resulted in supply chain bottlenecks, impacting the user industries, including the auto and electronics sectors.
Inventories of rare earth magnets used in critical automotive components - particularly electric vehicle (EV) traction motors and power steering systems - could run dry by mid-July this year, according to rating agency Icra.
The government plans to establish a fully indigenous manufacturing ecosystem with an annual production capacity of up to 6,000 tonnes. The scheme is expected to run for seven years, according to official documents.
India must act decisively to fully leverage the vast opportunities that exist in India for developing the entire rare earth magnet ecosystem, SIAM president Shailesh Chandra said on Thursday. The government is considering incentives for the production of rare earth minerals and magnets in response to China's restrictions on its global supply, which have disrupted the supply chain.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
The automobile industry has sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars. As per the industry sources, various domestic suppliers have already sought approval from the Chinese government through their local vendors in China.
The country's largest carmaker Maruti Suzuki India is recalibrating production of its upcoming model e-Vitara due to the shortage of rare earth magnets, industry sources said. The auto major is looking to produce around 8,000 units of the model by September as against the earlier stated plan of rolling out over 26,000 units during the period.
Maruti Suzuki India (MSIL) said on Thursday its operations are unaffected by the global rare earth magnet shortage, but added that the situation is "uncertain and evolving". The firm said it is exploring multiple solutions to maintain continuity in operations and will notify stakeholders in case of material impact.
Since April 4, around 35 importers in India have either not received any shipment of the magnets or have not been granted the import licences by China.
India's macroeconomic health is in a "relative goldilocks situation", and although the risk of higher landed oil prices, due to insurance cost surges and closure of choke points due to the brief Israel-Iran war, has receded, it is "too soon to sound the 'all clear' for the rest of the year", the Finance Ministry said on Friday.
China promised to address three key concerns of India, the sources said.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
'The reported deal between the European Union and China should mitigate it (shortage) for the medium to long term. Let's wait and watch how this plays out.'
US President Donald Trump received a red carpet welcome in Beijing for talks with Chinese President Xi Jinping on trade, the Iran war, and other key issues. The visit underscores the importance both nations place on their relationship amid ongoing tensions.
The United States and Ukraine have signed an 'economic partnership agreement,' giving Washington, DC access to Ukraine's rare earth minerals in return for creating an investment fund in the country, CNN reported.
TEXMiN Foundation, IIT (ISM) Dhanbad has signed an agreement with the University of Pretoria, South Africa, for research collaboration in critical minerals, rare earth element processing, recycling, extraction technologies and advanced mining innovation.
US President Donald Trump met with Chinese President Xi Jinping in Beijing to discuss trade, technology, Taiwan, and the Iran war. Xi Jinping said that 2026 will be a 'historic, landmark year' for China-US relations.
Escalating geopolitical tensions in West Asia are beginning to disrupt India's automotive supply chain, leading to rising commodity prices, logistics bottlenecks, material shortages, and pressure on consumer demand, with two-wheeler makers already raising prices.
World Earth Day 2026 is celebrated on April 22 to promote environmental protection. Know its history, significance, theme, inspiring quotes, and why it matters more than ever today.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
US President Donald Trump and Chinese President Xi Jinping began a crucial two-day summit in Beijing on Thursday, with both leaders signalling a desire to stabilise relations between the world's two biggest economies despite deep disagreements on trade, Taiwan, technology and security issues.
US President Donald Trump and Chinese President Xi Jinping met in Beijing to discuss a range of issues, including trade frictions and the war in Iran.
US President Donald Trump is set to visit China for talks with President Xi Jinping on trade, global issues, and the Gulf war. The visit aims to address trade frictions and other key issues, with high expectations for progress.
'It's a changing world and the opening up doesn't mean that concerns with regards to security have gone away.'
The Indian government has issued an updated Standard Operating Procedure (SOP) for processing Foreign Direct Investment (FDI) applications, aiming to clear all proposals within 12 weeks, a two-week extension from the previous 10-week target, to ensure a fully paperless and transparent process.
Mahindra & Mahindra (M&M) is implementing a comprehensive, multi-layered strategy to fortify its supply chains against geopolitical volatility, logistical challenges, and regulatory risks, drawing lessons from recent global disruptions.
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India's leading passenger vehicle manufacturers are significantly increasing investments and factory capacities, alongside planning major product launches for FY27, driven by strong confidence in sustained domestic demand growth despite global geopolitical tensions and supply chain risks.
'Policy consistency combined with timely and calibrated reforms are expected to ensure that India not only maintains macroeconomic stability, but also emerges as a globally competitive and inclusive economy.'
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