India's Race to Produce Cost-Effective Rare Earth Magnets Amid Global Supply Chain Challenges
The Indian government, industry, and academia are collaborating to address challenges in producing rare earth magnets crucial for the auto and electronics sectors. Despite existing technology, commercial competitiveness remains a hurdle. Recent export restrictions from China have intensified the urgency to develop domestic capabilities.
- Country:
- India
In a concerted effort to overcome production challenges of rare earth magnets, crucial for both the automotive and electronics industries, India's government, industry, and academic sectors have united. Amitesh Sinha, Additional Secretary of the Ministry of Electronics and IT, highlighted the pressing issue of commercial competitiveness despite existing technological prowess.
Speaking at the Tec-Verse event showcasing public-sector technology research, Sinha noted the strategic importance of this endeavor, especially in light of China's recent export licensing tightening on key rare earth elements. The initiative aims to develop scalable infrastructure to navigate supply disruptions and escalating costs.
The Centre for Materials for Electronics Technology (C-MET) signed a technology transfer agreement with Somal Magnets, marking progress in domestic manufacturing capabilities. Given the significance of rare earth magnets in electric vehicles and electronics, the need to reduce reliance on imports, predominantly from China, has become paramount as global supply chains remain strained.
(With inputs from agencies.)
Google News