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Business Standard
11-07-2025
- Automotive
- Business Standard
Bosch plans to double India exports by 2030, says Guruprasad Mudlapur
Guruprasad Mudlapur, president of the Bosch group in India and managing director (MD) of Bosch Ltd, talks about the company's strategy and challenges in India Surajeet Das Gupta Listen to This Article With over 39,000 employees and 18 manufacturing centres in India, German major Bosch India is the big boy of the global auto components business. Guruprasad Mudlapur, president of the Bosch group in India and managing director (MD) of Bosch Ltd, talks to Surajeet Das Gupta in a video interview about the company's strategy and challenges in India. Edited excerpts: As a global company, where do you see India's place in the auto sector? I think we are quite good in terms of manufacturing competitiveness. In terms of technology, we still need to catch up on several of the new electric
Time of India
15-06-2025
- Automotive
- Time of India
Magnet mayhem! Number of Indian companies awaiting licences from China for rare earths doubles; industry supplies hit hard
52 India-based companies depend on Chinese magnets for supplying to automobile manufacturers across the country. (AI image) China's hold on rare magnets sends Indian industry supply in tailspin! The count of Indian firms seeking permits from China's commerce ministry for rare earth magnet imports has risen to 21 from 11 in a fortnight. This development follows China's April 4 directive requiring exporters of medium and heavy rare earth magnets to obtain a commerce department licence after securing an end-user certificate from the purchaser. The certificate requires specific assurances from buyers. According to an ET report, the applicants include Bosch India, Marelli Powertrain India, Mahle Electric Drives India, TVS Motor and Uno Minda. Following a procedural rejection, Sona Comstar has submitted a fresh application and is now amongst the 21 companies awaiting approval, confirmed a senior industry official. Data from the Society of Indian Automobile Manufacturers shows that 52 India-based companies depend on Chinese magnets for supplying to automobile manufacturers across the country. Also Read | 'No basis to seek…': US disagrees to India asking for WTO consultations on auto tariffs; calls it 'essential security exception' An official was quoted as saying, "These companies have duly filled in and got endorsed the end-user certificate and shipped the requisite documents to their suppliers for procuring rare earth magnets from China, but licences are yet to be awarded by the government there." Sticky situation on rare magnets The certificates stipulate that these materials will not be utilised for storing, manufacturing, producing or processing weapons of mass destruction and their delivery systems. Rare Earth Problem: India hit due to US-China tariff friction Indian diplomatic officials are attempting to engage with Chinese authorities to address the issue through dialogue, but progress remains limited thus far, according to sources. Despite originating as a response to US President Donald Trump's tariffs, the US has now secured a bilateral agreement with China for rare earth magnet supply. European automotive component manufacturers have received approval for rare earth magnet sourcing, but their Indian counterparts still await clearance from China's commerce ministry. Experts note that strained political and business relations between the two countries complicate the situation. Industry participants are concerned about potential production disruptions if licensing delays continue, as inventory levels are expected to deplete by early July. India's imports of rare earth magnets totalled 870 tonnes, valued at ₹306 crore in 2024-25. "While the value of imports compared to the industry size is minuscule, vehicles cannot be manufactured even if we are short of one component where a rare earth magnet is being used," said an executive. Also Read | Big worry! China's grip over rare earth magnets sends Indian auto industry into a spin; delegation of industry people eye China visit Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
15-06-2025
- Automotive
- Time of India
Rare earth, rarer nod: Indian firms' magnet waitlist doubles in 2 weeks, sends industry into supply tailspin
The number of India-based companies awaiting licences from China's commerce ministry to procure rare earth magnets has nearly doubled to 21 from 11 two weeks ago, according to people familiar with the matter. These include Bosch India , Marelli Powertrain India , Mahle Electric Drives India, TVS Motor and Uno Minda , they said. Sona Comstar , whose application was recently rejected by China's commerce ministry due to procedural issues, has reapplied and is among the 21 companies, said a senior industry executive. 'These companies have duly filled in and got endorsed the end-user certificate and shipped the requisite documents to their suppliers for procuring rare earth magnets from China, but licences are yet to be awarded by the government there,' said the executive, who did not wish to be identified. It comes in the wake of China's April 4 order mandating exporters that ship medium and heavy rare earth magnets to seek a licence from its commerce department after getting an end-user certificate from the buyer. The certificate requires buyers to make certain guarantees. These include the guarantee that these items will not be used for storing, manufacturing, producing or processing weapons of mass destruction and their delivery systems. Although the order had come in response to Donald Trump's tariffs, the US President this week announced a bilateral trade deal under which China will supply rare earth magnets to the US. Meanwhile, Indian authorities are in the process of reaching out to their counterparts in China via diplomatic channels to secure meetings for a dialogue to resolve the issue, but not much has happened on that front yet, said the sources. While some automotive parts makers in Europe recently got approvals to source rare earth magnets, their Indian arms are yet to get a go-ahead from China's commerce ministry. The issue is complicated by the two nations' tense business and political relationship, experts said. As per the latest data collated by the Society of Indian Automobile Manufacturers, 52 companies based in the nation source magnets from China to supply to automobile manufacturers across India. If licences are not awarded soon, industry stakeholders fear disruptions in production as stocks are set to run out in early July. India imported 870 tonnes of rare earth magnets valued at ₹306 crore in 2024-25. 'While the value of imports compared to the industry size is minuscule, vehicles cannot be manufactured even if we are short of one component where a rare earth magnet is being used,' said an executive.
Economic Times
15-06-2025
- Automotive
- Economic Times
Rare earth, rarer nod: Indian firms' magnet waitlist doubles in 2 weeks, sends industry into supply tailspin
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: The number of India-based companies awaiting licences from China's commerce ministry to procure rare earth magnets has nearly doubled to 21 from 11 two weeks ago, according to people familiar with the matter. These include Bosch India, Marelli Powertrain India, Mahle Electric Drives India, TVS Motor and Uno Minda , they Comstar, whose application was recently rejected by China's commerce ministry due to procedural issues, has reapplied and is among the 21 companies, said a senior industry executive.'These companies have duly filled in and got endorsed the end-user certificate and shipped the requisite documents to their suppliers for procuring rare earth magnets from China, but licences are yet to be awarded by the government there,' said the executive, who did not wish to be comes in the wake of China's April 4 order mandating exporters that ship medium and heavy rare earth magnets to seek a licence from its commerce department after getting an end-user certificate from the buyer. The certificate requires buyers to make certain include the guarantee that these items will not be used for storing, manufacturing, producing or processing weapons of mass destruction and their delivery the order had come in response to Donald Trump's tariffs, the US President this week announced a bilateral trade deal under which China will supply rare earth magnets to the Indian authorities are in the process of reaching out to their counterparts in China via diplomatic channels to secure meetings for a dialogue to resolve the issue, but not much has happened on that front yet, said the some automotive parts makers in Europe recently got approvals to source rare earth magnets, their Indian arms are yet to get a go-ahead from China's commerce ministry. The issue is complicated by the two nations' tense business and political relationship, experts per the latest data collated by the Society of Indian Automobile Manufacturers, 52 companies based in the nation source magnets from China to supply to automobile manufacturers across licences are not awarded soon, industry stakeholders fear disruptions in production as stocks are set to run out in early July. India imported 870 tonnes of rare earth magnets valued at ?306 crore in 2024-25. 'While the value of imports compared to the industry size is minuscule, vehicles cannot be manufactured even if we are short of one component where a rare earth magnet is being used,' said an executive.
Time of India
15-06-2025
- Business
- Time of India
Rare earth, rarer nod: Indian firms' magnet waitlist doubles in 2 weeks, sends industry into supply tailspin
New Delhi: The number of India-based companies awaiting licences from China's commerce ministry to procure rare earth magnets has nearly doubled to 21 from 11 two weeks ago, according to people familiar with the matter. These include Bosch India, Marelli Powertrain India, Mahle Electric Drives India, TVS Motor and Uno Minda , they said. Sona Comstar, whose application was recently rejected by China's commerce ministry due to procedural issues, has reapplied and is among the 21 companies, said a senior industry executive. 'These companies have duly filled in and got endorsed the end-user certificate and shipped the requisite documents to their suppliers for procuring rare earth magnets from China, but licences are yet to be awarded by the government there,' said the executive, who did not wish to be identified. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo It comes in the wake of China's April 4 order mandating exporters that ship medium and heavy rare earth magnets to seek a licence from its commerce department after getting an end-user certificate from the buyer. The certificate requires buyers to make certain guarantees. These include the guarantee that these items will not be used for storing, manufacturing, producing or processing weapons of mass destruction and their delivery systems. Live Events Although the order had come in response to Donald Trump's tariffs, the US President this week announced a bilateral trade deal under which China will supply rare earth magnets to the US. Meanwhile, Indian authorities are in the process of reaching out to their counterparts in China via diplomatic channels to secure meetings for a dialogue to resolve the issue, but not much has happened on that front yet, said the sources. While some automotive parts makers in Europe recently got approvals to source rare earth magnets, their Indian arms are yet to get a go-ahead from China's commerce ministry. The issue is complicated by the two nations' tense business and political relationship, experts said. As per the latest data collated by the Society of Indian Automobile Manufacturers, 52 companies based in the nation source magnets from China to supply to automobile manufacturers across India. If licences are not awarded soon, industry stakeholders fear disruptions in production as stocks are set to run out in early July. India imported 870 tonnes of rare earth magnets valued at ?306 crore in 2024-25. 'While the value of imports compared to the industry size is minuscule, vehicles cannot be manufactured even if we are short of one component where a rare earth magnet is being used,' said an executive.
