India's Strategic Leap into the Rare Earth Magnet Industry
India must act decisively to harness its potential in the rare earth magnet sector, said SIAM President Shailesh Chandra. The government is considering production incentives as part of a strategic push to counter China's supply restrictions, enhance manufacturing capabilities, and boost automotive exports.
- Country:
- India
SIAM President Shailesh Chandra urged decisive action to capitalize on India's potential in the rare earth magnet sector during the annual Society of Indian Automobile Manufacturers convention.
Chandra underscored the impact of China's supply chain restrictions and highlighted India's governmental efforts, including potential incentives, to enhance rare earth magnet production.
He emphasized the need for strategic advancements in manufacturing and exports, positioning India at a crucial point to significantly increase its global market presence.
Advertisement
ALSO READ
China Outplays India: Women's Hockey Team Falls in Asia Cup Super 4s
China Dominates as India Falters: A Tough Loss in Women's Asia Cup Hockey
China's Human Rights Dilemma: Crackdowns and Courage
India lose to China 1-4 in Super 4s match of women's Asia Cup hockey tournament in Hangzhou, China.
Taiwan's President Warns of China's Expanding Global Ambitions
Google News