China rare meaning
China has stopped supply of India’s rare meaning. But India is also finding a way to deal with China. According to reports, a meeting will be held on 18 July 2025 in the PMO, in which planning will be done to give a befitting reply to China and to get out of this crisis.
According to the CNBC-TV18 report, the government has to meet in the PMO today to reduce the cries of rare meaning. This crisis, which has not yet been resolved, has caused serious concern for industries such as automobiles and electronics. According to sources, major government departments like heavy industry department (DHI), Ministry of Commerce and Ministry of Mining will participate in this meeting.
Automobile manufacturers have warned the government that the lack of rare meaning magnets can affect the production lines badly. These magnets are essential for many industries such as automobiles, electronics and renewable energy. Option supply strategy is being discussed. In the meeting, an alternative supply chain strategy will be emphasized to avoid such crisis in future. Also, the progress of the rare economy magnet incentive scheme of Rs 1,345 crore will also be discussed, which is currently under consideration among various ministries.
Electronics industry objected
The electronics industry has written a letter to the government, expressing concern that China has imposed informal sanctions on the deployment of rare economy, important equipment and Chinese employees. Industry organizations say that these steps are putting a serious $ 32 billion smartphone export target for India’s financial year 2026. The industry has demanded the government to immediately take some decision in their rights, so that the supply chain is going on in India’s global price chain (GVC). The electronics industry says that China has imposed a lot of care on three major regions- rare economy, withdrawal of Chinese technical staff and major manufacturing equipment. These steps can harm India’s electronics manufacturing and recent growth in exports.