Primus In News
India's EV surge needs a home-grown magnet fix: Report
09-07-2025
A report by Primus Partners highlights that India’s electric vehicle (EV) ambitions are at risk due to overdependence on China for rare earth materials. Triggered by China’s tighter export rules, delays in magnet shipments have exposed India's weak supply chains. Despite having the world’s fifth-largest rare-earth reserves, India lacks processing and magnet production infrastructure. The report urges immediate action: scale up domestic magnet production to 4,000 tonnes by 2030, diversify imports from countries like Australia and the U.S., and boost recycling with supportive policies. Without a self-reliant rare-earth value chain, India's EV growth may falter.
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