China’s curbs on rare earth magnets hits supply chain of Indian EV manufacturers, says govt
Limits on exports of key rare earth magnets by China has hit supply chains of manufacturers in India, Minister of States (MoS) for Commerce and Industry Jitin Prasada told the Lok Sabha on August 19, according to a PTI report.
The export curbs has caused a supply chain bottleneck in domestic industries, including electric vehicle (EV) manufacturers, Prasada informed Parliament today. “The recent imposition of export restrictions on key rare earth magnets by China has resulted in a supply chain bottleneck, impacting the Indian industries including electric vehicle manufacturers,” he stated.
