Rare Earths Magnets: 3 Indian Firms Get Import License From China
In a major breakthrough for India’s manufacturing sector, four Indian companies — Continental India, DE Diamond, Hitachi, and Jay Ushin — have become the first to receive licenses to import China’s tightly-controlled rare earth magnets. These critical materials power electric vehicles, smartphones, wind turbines, and defence technologies: but the imports come with strict conditions: the magnets cannot be exported to the US or used for defence production.
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