Mumbai: Irel (India) LTD, a public sector enterprise that produces elements of rare soils, has not had a full -time chairman and CEO (CMD) since December 2024, when Deeplendra Singh released for almost decades at the rudder.
The free space will come to light at a time when Indian manufacturers, especially car manufacturers, are afraid of disruption of production due to China limiting the export of rare soil elements. The Indian government and industry are exploring alternatives to reduce dependence on China for these elements that pass into several electronic components, especially engines that drive electric vehicles.
Currently, the position of CMD is displayed as unoccupied on the Irel website. SB Mohanta, director of the company for finance, took over the interim accusations of the CMD office.
Read also: A long story of mint: Indian dreams EV captured between a rare country and a hard place
In February, MiniRatna issued requests for the position of CMD for advertising for requests for the position of CMD.
“Indian public sector enterprises are delayed in terms of the performance of the director and the role of KMP (key managerial staff), waiting for approval from their parent ministries,” said Shiram Subraminian, exports of company administration and management and CEO of Proxy Advisory firm Ingevern.
“This must be resolved by the Directive from the Prime Minister’s office to all ministries, as it sends an incorrect signal that PSE (public sector companies) do not have planned succession planning and is an incredible service for companies and their investors,” he said.
E -Maily and calls to Irel requesting comment did not call an answer.
The long -term unoccupied point of the highest position in Irel is another hint of India, maybe the trick is missing by not making its first leadership in this sector. In 2010, India had only a little over 2% of the global production of rare countries, in second place only in Chinese 95% of the share. But the incompetitive costs of Indian producers in the face of the Chinese Juggernaut have suffocated the emerging domestic industry of rare countries.
Irel had a division of rare countries in Aluva, Kerala, which she had to close in 2004 due to lack of market competitiveness.
“Despite the importance of rare countries to meet the zero emissions by 2070 and the Irrel’s ability to make the refined individual rare countries available for the subsequent sectors, the rare soil ecosystem has to take off in India,” Irel said in her annual report FY24.
Read also: The highest power office Mulls for critical components because China limits the supply of rare soils
Slower than the expected acceptance of electric vehicles around the world led to the fact that the company reported previous demand with rare countries. This disrupted rare countries.
“Despite this unfavorable situation, Irel has successfully made available rare soil products with quality and price at the same level as the front supply country,” the company said.
Originally called Indian Rare Earths LTD, the company was established in 1950 under the administration of the first Indian Prime Minister Jawaharlal Nezru to produce Thorium to support Indian nuclear needs. Over the years, the company has been diversified to produce other elements of rare soils, including the recently inaugurated plants of rare soil magnet in Vishakhapatnam.
The company warned in 2010 that Chinese consolidation of the supply chain of global rare countries could be a problem for industries such as smartphones, solar articles and new technology vehicles in the future. This was after China suspended reserves of rare countries to Japan after a disagreement above the ocean borders, which caused the island nation to conclude an agreement with Irel for rare soils, Mint reported in November 2010.
Read also: The automaker urges an Indian government for diplomatic terrain to China on rare soil
This agreement is still valid. Last week, the Indian government asked Irel to suspend a thirteen -year agreement with Japan and to provide supplies for household goods, reported Reuters, quoting two unnamed sources.
The company showed a profit £1 012 crore for FY24. Its income for a year were £2 104 crore.
(Tagstotranslate) IREL (India) Limited
