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.
The BRICS nations have expressed concern over the proliferation of trade-restrictive actions in the form of 'indiscriminate rising' of tariffs, particularly measures used as a means of 'coercion', cautioning that such practices risk marginalising the Global South countries.
'Political protection allow groups to recruit, rearm and operate with reduced operational pressure. That increases their bargaining power and their ability to destabilise.'
If pharmaceutical exports from India to the US come under a 25 per cent tariff bracket, the impact on earnings before interest, tax, depreciation and amortisation (Ebitda) could be around 5 per cent, felt analysts. This is after assuming that about 75 per cent of the tariff would be passed on.
The wide-ranging sanctions imposed by the US on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd (BPCL) saying not enough cargoes are available for March.
The India Meteorological Department issued an orange alert of heavy rains for Mumbai for Wednesday, and predicted the intensity of rainfall in the metropolis will go down from Thursday.
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 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.
'We are increasing our footprint, but other markets also compete - like Indonesia or Vietnam.'
A Monorail train in Mumbai halted due to a power failure amid heavy rains, stranding approximately 200 passengers. Rescue operations were conducted, and an inquiry has been ordered into the incident.
The Foxconn move may have been prompted by the Chinese government's focus on strengthening its supply chain.
India has said it will take all steps to protect its national interests and ensure comprehensive national security in all domains after Pakistan and Saudi Arabia signed a strategic defence pact.
A landslide in the Vikhroli suburb of Mumbai killed two people and injured two others after heavy rains caused soil and stones to collapse on a hut.
'What we see now is a much stronger need for data sovereignty.'
'It's important for India to think about areas where it wants the US to move.' 'We can be far more innovative in what we ask the US.' 'Given that there's a package deal, why not do it?'
Heavy overnight rainfall caused widespread flooding in Kolkata, disrupting traffic, public transport, and daily life. Train and Metro services were suspended, and many areas experienced significant waterlogging.
The US's recent 50 per cent tariff on Indian exports will have a trickledown effect on India's affordable housing, potentially derailing demand as well as supply in this segment, according to experts. Pointing to worker incomes and jobs in micro, small and medium enterprises (MSMEs), and small and medium enterprises (SMEs) that typically make up majority of the customer base of affordable housing, would take a hit in the near terms due to the tariff change, further crippling India's affordable housing sector, already reeling from the impact of the Covid-19 pandemic.
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
China's export curbs on critical minerals crucial for India's electronics sectors are no longer mere warnings but a wake-up call for New Delhi, underscoring the need for urgent measures like reverse-engineering of low- to mid-tech imports to cut overreliance on Beijing, think tank GTRI said on Thursday.
Authorities continue evacuating stranded pilgrims from areas around Dharali village in Uttarkashi, focusing on air rescue and relief operations due to damaged roads. Chief Minister Pushkar Singh Dhami is overseeing the efforts, with central government support.
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
The crisis may not be as visible this time, but the stakes are just as high, points out Rajeswari Sengupta.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
Tomato prices soared to Rs 100 per kg in retail markets of the national capital on Saturday as adverse weather conditions in various parts of the country continue to affect supplies of the essential kitchen staple. Tomatoes are available at Rs 100 per kg at Mother Dairy's retail outlets, Safal, in the national capital.
Automobile retail sales in India rose around 5 per cent year-on-year in June with all vehicle segments, including passenger vehicles and two-wheelers, witnessing growth, Federation of Automotive Dealers Associations (FADA) said on Monday.
Microsoft Corp has restored all services -- including email access -- to Russian oil giant Rosneft-backed Nayara Energy, just before a scheduled hearing in the Delhi high court over the service suspension.
IMD data shows in the 24 hours between September 1 and 2, Haryana received 806 per cent more rainfall than normal, Punjab 759 per cent, Himachal Pradesh 510 per cent, Delhi 740 per cent, Chandigarh a staggering 1,638 per cent, and Rajasthan 193 per cent.
Incessant rains and flooding have caused widespread disruption in northern India, with states like Himachal Pradesh, Delhi, Punjab, and Jammu and Kashmir facing landslides, road closures, and displacement. Rescue efforts are underway as authorities grapple with the aftermath of the deluge.
Local train services in Mumbai were severely disrupted due to heavy rains and track submergence, causing hardship for commuters. Central Railway suspended services on key lines, and long-distance trains were rescheduled or cancelled. Passengers were stranded, and bus services were also affected.
Investors in India's information technology (IT) companies are likely in for more pain ahead as muted earnings for the first quarter of 2025-26 (Q1FY26) play spoilsport at the bourses in the worst-performing sector this year amid macro uncertainties. Investors, analysts suggest, can look for better opportunities in the markets as things stand.
The chief minister said the everyone from society, from the working classes to the upper classes, is associated with the yatra.
Brent crude oil prices can touch $150 a barrel (bbl) - up a whopping 103 per cent from the current levels - in the worst-case scenario if the Israel-Iran geopolitical tensions escalate, suggest analysts.
A day after news emerged that Foxconn Technology Group was "forced" by Beijing to send back its Chinese engineers and technicians from its Tamil Nadu plant, sources indicate that the global electronics giant has already drawn up an alternative plan to rescue its India iPhone 17 production by bringing in experts from mainly Taiwan and the US.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
The era where nations thrived through rigid alignments is giving way to an age where the connective State defines power. For India, that era has arrived, points out Dr Nishakant Ojha.
Prime Minister Narendra Modi on Friday said it is important for India and China to work together to bring stability to the world economic order as he asserted that New Delhi is ready to advance bilateral ties from a strategic and long-term perspective based on mutual respect, mutual interest and mutual sensitivity.
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 Taiwanese foreign minister said the time has come for all democratic countries to find ways to deal with China's expansionist agenda and its military muscle flexing, especially in the maritime domain.
Heavy rains battered Jammu and Kashmir, triggering floods, damaging infrastructure, and disrupting normal life. Authorities issued advisories and rescue operations were conducted.
Following the disruption in the supply of rare earth or permanent magnets after China's notification on April 4, the mines ministry is planning to introduce a Rs 1,500 crore incentive scheme to recycle critical minerals, according to a top official.
