Magnet mayhem! Number of Indian companies awaiting licences from China for rare earths doubles; industry supplies hit hard
52 India-based companies depend on Chinese magnets for supplying to automobile manufacturers across the country. (AI image) China’s hold on rare magnets sends Indian industry supply in tailspin! The count of Indian firms seeking permits from China’s commerce ministry for rare earth magnet imports has risen to 21 from 11 in a fortnight. This development…