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flag India grants first import licenses for Chinese rare earth magnets to ease supply issues.

flag India has granted its first import licenses to four domestic companies, including Indian subsidiaries of global firms, to directly purchase rare earth magnets from China. flag The move, confirmed by the Ministry of External Affairs, eases supply disruptions caused by China’s April export controls on neodymium-iron-boron magnets used in electric vehicles, wind turbines, and high-tech devices. flag The licenses, conditional on civilian use and requiring endorsements from trade authorities, help Indian manufacturers avoid costly redesigns and maintain production stability. flag While India continues building a domestic rare earth supply chain, these permits offer vital short-term relief amid global supply chain challenges.

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