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India grants first import licenses for Chinese rare earth magnets to ease supply issues.
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.
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.
The licenses, conditional on civilian use and requiring endorsements from trade authorities, help Indian manufacturers avoid costly redesigns and maintain production stability.
While India continues building a domestic rare earth supply chain, these permits offer vital short-term relief amid global supply chain challenges.
India otorga las primeras licencias de importación para imanes chinos de tierras raras para aliviar los problemas de suministro.