General discussion (MEI), page-6329

Today Mint Hindi India’s rare earth magnets crisis: What lies ahead for the EV sector?Experts weigh-in on what the path to resource independence looks like for India’s EV sector and how we can overcome China’s stranglehold on rare earth magnets.Parth Charan Updated11 Jun 2025, 10:29 AM India’s rare earth magnets crisis: What’s next for the EV sector? (Image: Reuters)As China’s curbs on rare earth magnets send ripples across global automotive, defence and consumer electronics supply chains, India’s fledgling EV ecosystem must finally reckon with its overreliance on China. At present, with no immediate resolution in sight, the EV industry faces major setbacks in the form of production delays, as Beijing turns down not one but two applications for India-bound shipments. China holds complete dominance over rare earth elements, mining 61 per cent and refining 91 per cent of the global supply. While India has the third-largest reserves of rare earth minerals, it has seen little to no investment from private companies and is yet to develop a self-reliant supply chain.