A naukri.com initiative
Inc42
4w
280
Image Credit: Inc42
Have India’s EV Dreams Hit A Rare Earth Wall?
- Geopolitics is now focused on critical minerals instead of oil, with rare earth elements at the center of the global power play.
- China's ban on the export of key rare earth elements has created challenges in various industries, including automotive and electronics.
- India, heavily reliant on Chinese imports, faces production delays in the automotive sector due to the rare earth supply chain disruption.
- Indian industry leaders express concerns as China controls a significant portion of the world's rare earth production.
- The Indian government emphasizes self-reliance and urges companies to develop technologies to reduce dependence on China.
- India struggles to mine and refine rare earth elements despite having reserves, leading to import dependence on China.
- Some Indian companies are exploring rare earth-free technologies as an alternative to mitigate supply chain disruptions.
- Experts suggest collaborating with institutions like IITs and DRDO to develop indigenous technologies and reduce reliance on China.
- While short-term concerns exist for the automotive industry, India sees an opportunity to rethink import dependency and explore alternative solutions.
- The situation highlights the need for India to address its rare earth import reliance and develop sustainable solutions for the future.
Read Full Article
16 Likes
For uninterrupted reading, download the app