Rajiv Memani: China’s Rare Earth Ban A Wake-Up Call For India’s Supply Chain Strategy

Rajiv Memani, President, Confederation of Indian Industry (CII), and Chairman & CEO, EY India, called the recent Chinese restrictions on rare earth magnets a major wake-up call for India’s supply chain strategy. He emphasized the need for immediate short-term alternatives through government-to-government (G2G) partnerships with nations that have surplus capacity. For the medium and long term, Memani stressed the importance of developing domestic extraction and manufacturing capabilities—despite challenges like regulatory hurdles, radioactive material handling, and lack of indigenous technology. While India has made early progress in semiconductors, he warned that other critical sectors require accelerated action and investment.