The process to engage with Chinese authorities on easing restrictions on rare earth magnets to India has begun, with domestic firms receiving visas to visit China, said a senior government official on Thursday.
The Chinese government had imposed restrictions on the exports of critical rare earths, which are essential for electric vehicles, semiconductors, electronics, smartphones missile technology. The authorities had mandated special export licenses for the export of at least seven rare earth elements and related magnets including samarium, gadolinium, terbium, dysprosium, and lutetium.
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“Efforts are on. In fact, when we last approached the Embassy of China, they had also issued visas to our companies, and they are in touch with Chinese authorities, and they are also finding means and ways by which the supply chain does not get impacted. So efforts are on in that direction,” the official said.
India hopes to ensure the supply chains of these minerals remains unaffected, the official added.
The India automobile industry had sought the government’s support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars.
India had also engaged in talks with Australia to import rare earths from Down Under to combat shortage; while ramping-up its own rare earth magnet facilities to ensure the domestic industry does not suffer losses resulting from its lack of supply.
Also Read: China’s loss may be Australia’s gain in rare earth supply
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