The Economic Times and Business Standard reported on October 9 that Indian companies have "complied with the requirements of the Chinese government" to ensure that heavy rare earth magnets are not re-exported to the US, in exchange for China resuming exports of rare earths to India. It is reported that China has required "ensuring that the heavy rare earth magnets supplied to India will not be exported to the US", but the Modi government has not yet agreed to this requirement. However, some Indian companies have submitted "end-user certificates", stating that the heavy rare earth magnets imported from China will only be used to meet local demand, and will not be used for the production of any weapons of mass destruction, nor will they be re-exported to the US. It is reported that to reduce dependence on Chinese rare earths, the Modi government plans to launch a seven-year program worth 73.5 billion rupees (₹7,350 crore) to promote the production of sintered rare earth permanent magnets (REPMs) domestically. The core objective of the program is to build a complete domestic value chain including neodymium-praseodymium (NdPr) oxide and sintered neodymium-iron-boron (NdFeB) magnets, ultimately establishing a manufacturing ecosystem with an annual capacity of 6,000 tonnes. On one hand, due to the current lack of technology and infrastructure for the three key links of "rare earth oxide to metal", "metal to alloy", and "alloy to magnet", the program aims to focus on encouraging these three types of production facilities. On the other hand, because rare earth refining equipment needs to be imported from China at high prices, capital subsidies may offset the additional import costs borne by domestic manufacturers.
Original article: www.toutiao.com/article/1845613753621516/
Statement: This article represents the views of the author.