China’s Magnet Export Ban: Impact On India’s Auto And Tech Sectors

In Bern, Switzerland, Commerce Minister Piyush Goyal addressed mounting concerns over China’s restrictions on the export of permanent magnets and related items to India. These curbs pose a significant threat to India’s auto, white goods, and electronics sectors, highlighting the risks of overreliance on a single source. Goyal outlined India’s multi-pronged response—including securing alternate supply lines and fast-tracking rare earths development via Indian Rare Earths Limited. He called it a “wake-up call” for Indian industry to boost domestic manufacturing and resilience. Tune in as Business Today unpacks the sectoral impact, government strategies, and how India is preparing for a future less vulnerable to global supply shocks.