The new Delhi, 16 June (PTI), hopes that the positive result from its involvement in China will solve problems related to export curbs in Beijing on rare soil magnets, which are mainly used in the automotive sector, said the highest government official on Monday.
Chinese limitations of exports of rare soils and related magnets affect domestic automotive and white goods.
The automotive industry was looking for government support to accelerate the approval of the Chinese government for the import of rare soil magnets used in various applications, including passenger cars.
Trade Minister Sunil Barthwal said that these curbs are against all countries and are not only against India.
Since this affects more automotive sector, the government speaks to both Indian car manufacturers (Siam) and the association of car manufacturers in India (ACMA).
“We are facilitating discussions with their counterparts in China and the diplomatic level of the Ministry of External Affairs and the Ministry of Trade also spoke to the ambassador,” he told reporters.
He added that both diplomatic and commercial discussions take place with China on this matter.
“We are making all efforts to find that these basic import items can come to India … What I feel that this diplomatic and commercial communication should bring a positive result,” Barthwal said.
China has brought a regime where “perhaps licenses may be required, so we facilitate our importers and our car players in any possible way,” he said.
According to industrial sources, various domestic suppliers have already sought approval by the Chinese government through their local retailers in China.
China controls over 90 % of global processing capacity for magnets used in multiple sectors, including cars, household appliances and clean energy.
The Chinese government has received restrictions on April 4 and ordered special export licenses for seven elements of rare soils and related magnets.
Critical materials include Samarium, Gadolinium, Terbium, Dysprosium and Lutetium, which are essential in electric motors, brake systems, smartphones and rocket technologies.
(Tagstotranslate) Magnets of rare soils
