Overview

• The licensing backlog for rare earth magnet imports has doubled to 21 Indian firms, and inventories are expected to run out by early July.
• Over 50 automakers and component suppliers, including Bosch India, TVS Motor and Sona Comstar, depend on neodymium magnets held up in Beijing.
• Indian diplomats are seeking expedited approvals after the US secured a bilateral magnet supply deal and European manufacturers won clearance from China.
• The government is pursuing alternative sourcing agreements with Vietnam, Australia, the US and Central Asian partners to diversify rare earth imports.
• To build domestic capacity, authorities have auctioned new mining blocks and are exploring commercialization of public-sector magnet processing technologies.