China's curbs on rare earth exports taking toll on TG mfg sector: Sridhar
To this end, he met Piyush Goyal in New Delhi on Wednesday and submitted a formal representation.
He stated: 'Rare earth magnets, critical raw materials, and chemicals required for the production of electronics and electric vehicles are largely imported from China. That country has recently imposed restrictions on the export of such materials. This has affected the industries manufacturing electronics and EVs. If this situation continues, it could lead to significant losses. Telangana's manufacturing sector is particularly vulnerable to this impact.' He emphasized the need for the Union Government to assess the real-time situation and focus on establishing alternate supply arrangements to avoid disruption to the electronics and EV industries.
The minister also urged Piyush Goyal to extend full support for the development of industrial infrastructure in the State. He elaborated on plans for the Hyderabad–Nagpur, Hyderabad–Warangal, Hyderabad–Bengaluru, and Hyderabad–Vijayawada industrial corridors. He requested the sanction of Rs 400 crore under the PM Gati Shakti scheme for essential infrastructure under the Industrial Smart City project being developed at Zaheerabad.
He brought to the Union Minister's attention that the Hyderabad–Warangal Industrial Corridor (HWIC) had come to a standstill due to negligence by the previous government. However, the current government is now developing the Pharma City, which is part of this corridor, into a 'Future City.' He requested central cooperation in this initiative. He also urged the Centre to release funds for the development of Warangal Airport and several associated industrial nodes.
The Minister reminded that the Telangana government has shown strong interest in the Centre's proposal to develop 100 industrial parks and has already submitted its views on the matter. He requested that sufficient funds be allocated for these projects.
The Telangana government has also proposed setting up a National Design Centre (NDC) in Hyderabad to elevate India's design sector and promote global recognition for Made in India products. He stated that the centre would become a national hub for design thinking.
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