New Delhi, Oct 31: Indian companies, including Continental India, Hitachi, and Jay Ushin, have received government licenses to import rare earth magnets from China, following Beijing’s earlier export restrictions.

This move aims to address supply issues impacting India’s automotive and electronics sectors, particularly in manufacturing electric vehicles. The licenses come with specific conditions, prohibiting re-export to the United States and defense uses.

The Indian government is also in discussions with China to ensure a stable supply of rare earth materials. Additionally, US President Donald Trump announced a one-year deal for rare earth supplies with China, following a meeting with President Xi Jinping.

See Full Page