DISRUPTION IN THE SUPPLY OF RARE EARTH MAGNETS
DISRUPTION IN THE SUPPLY OF RARE EARTH MAGNETS
India’s imports of Rare Earth Magnet (REM) from China vis-à-vis world, value-wise and Quantity-wise are given in Annexure-I and Annexure-II respectively.
As per inputs provided by Society of Indian Automobile Manufacturers (SIAM), the leading industry bodies SIAM and Automotive Component Manufacturers Association (ACMA) have provided detailed inputs on short term and long term impact on the industry.
The National Critical Mineral Mission has been set up, following the approval by the Union Cabinet on 29.01.2025. The Mission comprises key interventions for increasing domestic capacity and building supply chain resilience in critical minerals which include Rare Earths Elements (REE).
Additionally, Ministry of Mines is providing funding for R&D projects related REE to various Institutions/Laboratories/Start-ups/ MSMEs. A total of 11 REE-related projects were approved during 2023–24 and 2024–25 with a combined outlay of ₹9.33 crore.
ANNEXURE-I
(Value in USD Mn)
S.N.
HS Code
Description
India’s Import from China
India’s Import from World
Import Dependency on China
2022-23
2023-24
2024-25
2022-23
2023-24
2024-25
2022-23
2023-24
2024-25
1
85051900
PERMANENT MAGNETS AND ARTICLES INTENDED TO BECOME PERMANENT MAGNETS AFTER MAGNETISATION; OF OTHER MATERIAL
44.13
44.14
50.42
69.73
70.11
84.65
63.3%
63.0%
59.6%
2
85051190
OTHER: PERMANENT MAGNETS AND ARTICLES INTENDED TO BECOME PERMANENT MAGNETS AFTER MAGNETISATION; OF METAL
88.42
90.8
110.68
124.73
124.77
136.14
70.9%
72.8%
81.3%
3
85059000
ELECTRO MAGNETIC LIFTING HEADS
25.96
26.26
28.04
80.62
79.73
88.67
32.2%
32.9%
31.6%
(Source : DGCIS)
ANNEXURE-II
(Quantity in Kgs)
S.No.
HS Code
Description
India’s Import from China
India’s Import from World
Import Dependency on China
2022-23
2023-24
2024-25
2022-23
2023-24
2024-25
2022-23
2023-24
2024-25
1
85051900
PERMANENT MAGNETS AND ARTICLES INTENDED TO BECOME PERMANENT MAGNETS AFTER MAGNETISATION; OF OTHER MATERIAL
1,62,36,407
2,12,59,867
2,18,97,325
1,96,41,188
2,42,26,205
2,58,25,835
82.7%
87.8%
84.8%
2
85051190
OTHER: PERMANENT MAGNETS AND ARTICLES INTENDED TO BECOME PERMANENT MAGNETS AFTER MAGNETISATION; OF METAL
1,12,29,183
1,70,17,844
1,76,85,296
1,36,53,244
1,91,65,153
1,95,72,941
82.2%
88.8%
90.4%
3
85059000
ELECTRO MAGNETIC LIFTING HEADS
35,68,626
40,26,497
40,27,951
54,23,818
60,21,502
63,70,616
65.8%
66.9%
63.2%
(Source : DGCIS)
This information was given by the Minister of State for Heavy Industries and Steel, Shri Bhupathiraju Srinivasa Varma in a written reply in the Rajya Sabha.