Overview

• China’s April export licensing on seven rare earth elements and magnets has triggered supply bottlenecks for Indian auto, electronics and clean energy firms
• About 10 applicants under the INR 22,919 Cr Electronics Component Manufacturing Scheme have warned they may miss first-year production targets without improved rare earth supplies
• MeitY officials will extend the ECMS application window beyond July 31 to help firms considering imports or rare-earth-free technology alternatives
• Union Minister Jitin Prasada reported no cost escalations or project delays in Maharashtra’s auto and electronics clusters, with no formal inter-ministerial task force or PLI scheme established
• New Delhi is drafting a INR 1,345 Cr subsidy to incentivize domestic rare earth magnet production, though the plan remains under inter-ministerial consultation