<ul data-eligibleForWebStory="false"><li>China, the leading producer of rare earth magnets, enforced export restrictions in April, leading to a disruption in the global supply chain.</li><li>Indian companies, including Mahindra & Mahindra and Uno Minda, are exploring local production of rare earth magnets due to the supply chain disruption and China's export restrictions.</li><li>Mahindra expressed interest in investing in local magnet production and discussed potential partnerships or long-term contracts with suppliers during a meeting with the Ministry of Heavy Industries in June.</li><li>While India has significant rare earth mineral reserves, the challenge lies in mining them efficiently, but efforts are underway to boost domestic production and explore partnerships for securing raw materials.</li></ul>

Mahindra & Mahindra, Minda eye local magnet production, sources say

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