NEW DELHI, Oct 30: China has granted licences to certain Indian companies to import rare earth magnets, the MEA said on Thursday.
China’s decision to ease restrictions on supply of rare earth minerals to India came amid efforts by the two sides to normalise the bilateral ties that came under severe strain following the over four-year military face-off along the LAC in eastern Ladakh. “Some Indian companies have received licenses for importing rare earth magnets from China,” External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly media briefing.
He, however, did not elaborate on it.
Rare earth minerals are considered vital for high-end technology products including electric vehicles (EVs), drones, and battery storage. China has been a dominant player in the critical minerals supply chain globally. (PTI)
