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India, China Tackle Rare Earth Curbs In Meeting Of Top Officials
- China's export curbs on rare earth magnets are causing delays in shipments of auto parts to India, worrying carmakers about disruptions to production.
- Indian officials discussed China's rare earth restrictions with China's Vice Foreign Minister as automakers warn of a looming shortage in India.
- The issue was raised during a meeting between Foreign Secretary Vikram Misri and China's Vice Foreign Minister Sun Weidong in New Delhi.
- Chinese export curbs on rare earth magnets, essential in various products, are affecting auto parts shipments to India, raising concerns for carmakers.
- Indian automakers may face tougher conditions in securing supplies from China compared to counterparts in other countries, with Beijing rejecting some India-bound shipments.
- India and China agreed to hold further talks on critical mineral supplies and broader economic and trade issues.
- Indian carmakers lobby the government to urge China to ease rare earth restrictions and plan to visit Beijing this month to make their case to officials and suppliers.
- The recent diplomatic dialogue between India and China suggests a potential resolution to the rare earth issue, following global trade talks between the US and China which have raised optimism for eased restrictions.
- The visit by China's Vice Foreign Minister follows efforts by both countries to rebuild ties after a border standoff, with pledges from their leaders to stabilize relations and take practical steps to facilitate visas and restart direct flights.
- India had implemented legal measures to discourage Chinese investments and banned mobile applications after border clashes in 2020.
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