China has issued licences to certain Indian companies for importing rare earth magnets, marking a significant development in efforts to stabilise the minerals supply chain between the two countries. Rare earth minerals, critical for sectors such as electric vehicles and battery storage, are essential to India’s economic growth. China holds a dominant position in global rare earth mining, accounting for around 70 per cent of global production. Advertisement

The decision could offer India a more reliable supply of these resources, potentially impacting various industrial sectors.

The Ministry of External Affairs (MEA) in New Delhi confirmed the move on Thursday. At his weekly media briefing, External Affairs Ministry spokesperson Randhir Jaiswal stated, "Some Indian companies have receiv

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