Maruti Suzuki navigates rare earth crisis, production unaffected
India is actively working to mitigate the impact of the
global rare earth magnet shortage
but has not yet seen any disruption in production, a senior executive said on Thursday,
PTI
reports.
Calling the situation 'challenging', Rahul Bharti, Senior Executive Officer, Corporate Affairs, said engineers are working on solutions to avoid potential impacts following China's export curbs on key rare earth elements. 'It's work in progress, but we are managing for now,' he added.
China, which controls over 90 per cent of the global processing capacity, mandated export licences for certain rare earths from April, tightening supplies for industries including auto and electronics.
On the demand front, Bharti said the company remains optimistic about the festive season, citing signs of a rural recovery and improved monsoon. He noted that while Q1 was below expectations, Q2 could see improvement.
He also said discussions on the upcoming CAFE-3 fuel efficiency norms are progressing well, and final guidelines are expected in the next couple of months.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
11 minutes ago
- News18
Rane (Madras) posts Rs 16.5 cr PAT in Q1
Agency: PTI Last Updated: Mumbai, Aug 5 (PTI) Auto component maker and Rane Group firm Rane (Madras) on Tuesday posted an increase in consolidated profit after tax of Rs 18.5-crore in the June quarter. The company had recorded a consolidated PAT of Rs 14.6 crore in the first quarter of FY25, Rane (Madras) said in a statement. Total revenue for the quarter under review stood at Rs 884.4 crore, up 7.4 per cent from Rs 823.8 crore in the April-June period of the previous fiscal year, it said. Sales to domestic original equipment (OE) customers grew 7 per cent on the back of higher off-take in the passenger vehicle and farm tractor segment. Sales to international customers increased 15 per cent supported by strong offtake of steering products while sales to the domestic aftermarket customers declined 2 per cent, the company said. The company said it is closely monitoring the evolving tariff decisions in the US, which accounts for 8 per cent of its total sales. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
11 minutes ago
- News18
Don't give China pass, burn relationship with strong ally India: Nikki Haley
Agency: PTI Last Updated: New York, Aug 5 (PTI) The US should not burn its relationship with a 'strong ally like India" and give a pass to China, Indian-American Republican leader Nikki Haley said on Tuesday, amid President Donald Trump's attacks against New Delhi over tariffs and purchases of Russian oil. 'India should not be buying oil from Russia. But China, an adversary and the number one buyer of Russian and Iranian oil, got a 90-day tariff pause," Haley said in a post on X. 'Don't give China a pass and burn a relationship with a strong ally like India," she said. Haley, the former Governor of South Carolina, was the US Ambassador to the United Nations under Trump's first presidential term, becoming the first Indian-American to be appointed to a cabinet-level post in the US administration. In 2013, she officially announced her candidacy for the 2024 presidential election and withdrew from the race in March last year. Her comments came hours after Trump said India has not been a 'good trading partner" and announced he will raise tariffs on India 'very substantially over the next 24 hours" because New Delhi is buying Russian oil and 'fueling" the 'war machine". India on Monday mounted an unusually sharp counterattack on the US and the European Union for their 'unjustified and unreasonable" targeting of New Delhi for its procurement of Russian crude oil. Meanwhile, Trump, in an interview with CNBC responded to a question on China and its leader, Xi Jinping, and said, 'We have a very good relationship". Trump added that he might have a meeting with the Chinese President 'before the end of the year, most likely, if we make a deal." He said he won't have a meeting if a deal doesn't materialise. 'But we're getting very close to a deal. We're getting along with China very well." Trump added that China is 'very reliant" on the US. 'My relationship with them is very good. I think we'll make a good deal. It's not imperative, but I think we're going to make a good deal." He added that he has had a 'great relationship" with President Xi. 'We respect him a lot. They respect us a lot." PTI YAS GRS GRS GRS GRS view comments First Published: August 05, 2025, 21:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
11 minutes ago
- News18
SAfrica poses no threat to US economy or its national security: Govt
Last Updated: Johannesburg, Aug 5 (PTI) South Africa poses no threat to the US economy or its security, the government said here, adding that the 30 per cent tariff on the country is 'inscrutable." 'South Africa's minimal 0.25 per cent share of total US imports makes the 30 per cent tariff on our country are inscrutable, especially when these same tariffs have been applied indiscriminately to all US trading partners globally. Minister of Trade, Industry and Competition Parks Tau and Minister of International Relations and Cooperation Ronald Lamola said in a joint statement on Monday. 'South Africa poses no trade threat to the US economy nor its national security," the statement added. 'South Africa isn't just a trading partner—we're a major investor in the US, with our companies sustaining American jobs. Similarly, over 600 US companies in South Africa contribute to our industrial growth and create employment," they said, adding that South Africa's goal is to preserve and grow the mutually beneficial relationships with the US. The ministers said that South Africa's agriculture exports are even counter-seasonal, filling the gaps in the US market rather than replacing domestic products, such as in the case of citrus exports. The ministers also challenged the calculation of the US-SA 'trade deficit" as announced by Trump, claiming that it ignores the substantial US trade surplus in services, as well as the complementary nature of the bilateral trade and investment relations between the two countries. But against the reality of the impact on local trade and industry, the ministers announced some mitigation plans. These include the establishment of an Export Support Desk, which will serve as a direct point of contact for companies affected by the US tariff hike, as well as support with diversification of markets. The desk will provide support measures for the diversification of export markets for increased resilience and facilitate the entry into alternative markets for affected exporters. Measures to assist companies to absorb the tariff and facilitate long-term resilience and growth strategies to protect jobs and productive capacity in South Africa are also being finalised. The ministers said that South Africa has been strengthening trade and investment partnerships with various trade partners. 'These efforts are bearing fruit, targeting markets across Africa, as well as in Asia, Europe, Middle East, and Americas," they said. 'We are also working with the Department of Labour on measures to mitigate potential job losses, using existing instruments within its entities that can be adjusted to respond to the current challenges," the statement said. 'While facing global trade challenges, South Africa is proactively building a more resilient agricultural sector. We've made significant progress in opening up vast new markets like China and Thailand, securing vital protocols for products like citrus and others," they added. Singling out China alone as a USD 200 billion market, the ministers expressed confidence in expanding South Africa's reach and creating new opportunities for its agricultural producers. The US is currently South Africa's third biggest trading partner, behind the European Union and China. ('Because) The US accounts for 7.5 per cent of our global exports, we will continue to engage the US with a view to conclude a deal that advances the interests of both countries. 'South Africa seeks to conclude deals that promote value addition and industrialisation, rather than extractive relations that deprive the country of the ability to beneficiate our mineral wealth by mimicking extractive colonial era trade relations," the statement firmly asserted. 'While the current measures present challenges, it also presents opportunities to build and accelerate the implementation of the African Continental Free Trade Agreement and to develop new partnerships in markets that have remained untapped, including ASEAN and Türkiye," the ministers shared. PTI FH RD RD RD (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 05, 2025, 21:15 IST News agency-feeds SAfrica poses no threat to US economy or its national security: Govt Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
