China's clampdown on rare earths has prompted India to explore options

Japan is a model to look at. After the 2010 episode, it reduced its dependence on China to 60 per cent of its requirement of magnets

It accounts for just 1 to 3 per cent of the total bill of material for an electric vehicle (EV). That’s the reason auto companies forked out a mere ₹306 crore on its imports last year. But without this small piece of magical component, auto companies cannot produce and assemble any electric vehicle, be it a car or a two-wheeler. Nor can companies like Apple Inc make hearables like airpods or drone makers their light-weight drones. 

Not a surprise then that shortage of rare-earth magnets has turned into a national crisis. China, which makes most of the medium and heavy