The Indian automotive sector is gearing up to send a high-level delegation to China next week to tackle mounting concerns around delayed imports of rare earth magnets, according to a report in The Economic Times.
The delay stems from China’s new export restrictions on rare earth materials, which took effect on April 4. These regulations have introduced procedural hurdles, causing significant shipment bottlenecks for Indian manufacturers, the news report said.
Several shipments of rare earth magnets — vital components used in electric motors and other automotive parts — are reportedly stranded at Chinese ports. This disruption has sparked worries about potential production halts as early as the first week of June.
Joint industry delegation to engage Chinese officials
A joint delegation comprising representatives from the Society of Indian Automobile Manufacturers (Siam) and the Automotive Component Manufacturers Association (Acma) is set to meet with senior Chinese government officials. Their goal is to accelerate the approval process and restore the steady flow of these critical imports, the news report said.