Auto component industry seeks national strategy on critical materials amid rare magnet shortage
rare earth magnets
, the
auto component industry
body
ACMA
on Tuesday sought a
national strategy on critical materials
to secure
electric vehicle production
in the country.
Terming the rare earth shortages as a major concern, Automotive Component Manufacturers Association of
India
(ACMA) President Shradha Suri
Marwah
said that the industry is agile and has started to work on alternative solutions.
"The limited availability of rare earth magnets remains a concern, underscoring the need for a national strategy on critical materials to secure the future of EV and mobility manufacturing in India," she stated.
Despite various geopolitical issues and supply chain challenges, the auto components industry reported a turnover of USD 80.2 billion for FY2025, a growth of around 10 per cent as compared with FY2024, Marwah stated.
The industry grew at a CAGR of 14 per cent from FY20 to FY25, nearly doubling in size over a period of past five years.
"FY25 was yet another milestone year where the industry's growth was underpinned by strong
domestic demand
, rising exports and increasing value addition," Marwah said.
As India transitions towards new-age mobility, the industry is making the necessary strides in investments, technology and localisation to serve both domestic and global markets effectively, she added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
an hour ago
- Economic Times
Tibet's Yarlung Zangbo Dam: China's new tool for environmental destruction, Brahmaputra domination
Synopsis China has commenced construction on the Motuo Hydropower Station in Tibet, raising concerns in South Asia. The project, estimated at USD 170 billion, could give Beijing control over the Brahmaputra River, impacting millions downstream. India and Bangladesh have voiced concerns about potential water weaponization and ecological damage, while activists decry exploitation. ANI Tibet's Yarlung Zangbo Dam: China's new tool for environmental destruction, Brahmaputra domination China has begun construction on what it claims will be the world's largest hydropower project, the Motuo Hydropower Station, deep in the politically sensitive region of Tibet. Costing an estimated USD 170 billion and projected to generate 300 billion kilowatt-hours of electricity annually (roughly the amount consumed by the UK in a year), the dam is raising serious alarm across South to The Institute for Energy Research (IER), the Motuo project will consist of five cascade hydropower stations in the lower reaches of the Yarlung Zangbo River, which becomes the Brahmaputra once it crosses into India and then Bangladesh. This gives Beijing direct control over a vital transboundary river that supports millions downstream and effectively hands China a dangerous new geopolitical weapon.A 2020 report by the Lowy Institute, cited by IER, warned that "control over these rivers effectively gives China a chokehold on India's economy." Experts now fear the Yarlung Zangbo could be used as a "water bomb," either draining the Brahmaputra during dry seasons or triggering devastating floods in India's Arunachal Pradesh and Assam states. Indigenous groups like the Adi tribe, who rely on the Siang River, one of the Brahmaputra's upper tributaries, stand to lose local ecosystem in the region, among the richest in the Himalayas, could be irreversibly damaged. Both India and Bangladesh have voiced formal concerns, with India reportedly exploring a countermeasure: a buffer dam on the Siang to offset sudden Chinese water discharges. IER notes that for China, this mega-project is about more than electricity. It serves Beijing's wider goals of industrialising Tibet and exporting power eastward to China's urban centres under the "xidiandongsong" policy, literally, "sending western electricity east." But activists and Tibetans see a darker motive: exploitation masked as development. Just last year, hundreds of Tibetan protesters were rounded up, beaten, and arrested for opposing another hydropower China's climate pledges of a carbon peak by 2030 and net-zero by 2060, IER argues the Motuo Dam is less about clean energy and more about strategic leverage. With glacial melt driving the river's flow, seasonal variability could undermine energy output. Still, Beijing appears undeterred, treating the project more as a geopolitical instrument than an environmental IER concludes, the Motuo dam exemplifies China's readiness to weaponise water, putting regional security, ecological balance, and human rights at grave risk.
Time of India
an hour ago
- Time of India
Tibet's Yarlung Zangbo Dam: China's new tool for environmental destruction, Brahmaputra domination
China has commenced construction on the Motuo Hydropower Station in Tibet, raising concerns in South Asia. The project, estimated at USD 170 billion, could give Beijing control over the Brahmaputra River, impacting millions downstream. India and Bangladesh have voiced concerns about potential water weaponization and ecological damage, while activists decry exploitation. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads China has begun construction on what it claims will be the world's largest hydropower project, the Motuo Hydropower Station , deep in the politically sensitive region of Tibet. Costing an estimated USD 170 billion and projected to generate 300 billion kilowatt-hours of electricity annually (roughly the amount consumed by the UK in a year), the dam is raising serious alarm across South to The Institute for Energy Research (IER), the Motuo project will consist of five cascade hydropower stations in the lower reaches of the Yarlung Zangbo River, which becomes the Brahmaputra once it crosses into India and then Bangladesh. This gives Beijing direct control over a vital transboundary river that supports millions downstream and effectively hands China a dangerous new geopolitical weapon.A 2020 report by the Lowy Institute, cited by IER, warned that "control over these rivers effectively gives China a chokehold on India's economy." Experts now fear the Yarlung Zangbo could be used as a "water bomb," either draining the Brahmaputra during dry seasons or triggering devastating floods in India's Arunachal Pradesh and Assam states. Indigenous groups like the Adi tribe, who rely on the Siang River, one of the Brahmaputra's upper tributaries, stand to lose local ecosystem in the region, among the richest in the Himalayas, could be irreversibly damaged. Both India and Bangladesh have voiced formal concerns, with India reportedly exploring a countermeasure: a buffer dam on the Siang to offset sudden Chinese water notes that for China, this mega-project is about more than electricity. It serves Beijing's wider goals of industrialising Tibet and exporting power eastward to China's urban centres under the "xidiandongsong" policy, literally, "sending western electricity east." But activists and Tibetans see a darker motive: exploitation masked as last year, hundreds of Tibetan protesters were rounded up, beaten, and arrested for opposing another hydropower China's climate pledges of a carbon peak by 2030 and net-zero by 2060, IER argues the Motuo Dam is less about clean energy and more about strategic leverage. With glacial melt driving the river's flow, seasonal variability could undermine energy output. Still, Beijing appears undeterred, treating the project more as a geopolitical instrument than an environmental IER concludes, the Motuo dam exemplifies China's readiness to weaponise water, putting regional security, ecological balance, and human rights at grave risk.
Mint
an hour ago
- Mint
Odisha Guv asks real estate developers to invest in tier 2 & 3 cities
Bhubaneswar, Aug 2 (PTI) Odisha Governor Hari Babu Kambhampati has called upon real estate developers to invest in tier II and III cities for balanced urbanisation and ensuring sustainable development. He also stressed the need for ethical business practices and customer-centric models to build trust in the sector. 'Odisha stands at a critical inflection point - emerging as the growth engine of Eastern India. Smart cities like Bhubaneswar and Rourkela, the Bhubaneswar-Cuttack-Puri Corridor, and major industrial corridors are unlocking immense potential,' he said. Addressing an Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers' Associations of India (Credai) on Friday, the governor said, "The real estate developers should focus on tier-2 and 3 cities for balanced urbanisation and invest in affordable housing, green development, and digital infrastructure." The EGM of the association returned to Odisha after a nine-year gap. The event brought together a distinguished panel of national leaders, developers, policymakers, and stakeholders to deliberate on the future of real estate, investment prospects, and sustainable urban development. Credai president Shekhar G Patel highlighted the evolution of Bhubaneswar over the last decade, stating, 'From a twin city, we now see a vision for a dynamic tri-city cluster comprising Bhubaneswar, Cuttack, and Puri. This region is poised to be one of India's top 50 urban centres.' He underscored the contribution of the real estate sector to India's economy. 'Currently contributing 8.4 per cent to India's GDP, it is the second-largest employment generator after agriculture. With RERA streamlining the industry, 95 per cent of the sector is now organised. By 2030, it is projected to become a USD 1 trillion sector, contributing 10 per cent to the GDP.' Credai Bhubaneswar president and MLA Sofia Firdous said that with strategic central initiatives like the Smart City Mission, Bhubaneswar is emerging as the real estate capital of Eastern India.
