India Developing Alternative Supply Chains
News: Commerce and Industry Minister Piyush Goyal stated that India is actively building alternative supply chains in response to China’s ban on rare earth exports, calling it a “wake-up call” for global overdependence on specific geographies.
The move has impacted India’s auto and white goods sectors, particularly due to restricted access to permanent magnets.
Goyal emphasized a multi-pronged approach—diplomatic engagement, alternative sourcing, and domestic innovation—to reduce reliance on China.
He expressed confidence in India’s medium-to-long-term resilience, highlighting increased private-sector support for local startups.
Meanwhile, the auto industry has urged faster import approvals as China controls nearly 90% of global magnet production, posing a significant supply chain risk for key manufacturing industries.
Source: Logisticsinsider
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