Overview

• China has agreed to ease restrictions on rare-earth magnet exports to India, according to Reuters, providing short-term relief for manufacturers.
• In Parliament, Minister of State Jitin Prasada said the curbs created a supply bottleneck that has hit Indian industries, including electric vehicle makers.
• Automakers reported concrete impacts, with Maruti Suzuki cutting April–September e‑Vitara targets to about 8,200 from 26,500 units and Bajaj Auto warning August EV output could be a “zero month” without supplies.
• The Mines Ministry detailed diversification efforts through bilateral agreements with countries such as Australia, Argentina and Zambia, alongside KABIL’s push to secure overseas critical minerals.
• Shipments are unlikely to normalize immediately due to licensing backlogs and lead times, and firms such as Mahindra and Uno Minda are exploring local magnet production to curb dependence.