New Delhi: There is some important information for those in India related to electric vehicles (EVs) business and advanced technology. The countrys leading auto company Mahindra & Mahindra and auto parts maker Uno Minda are now preparing to make rare earth magnets in India. These magnets are very important for electric motors defense systems and electronic devices. Till now India was dependent on China for their supply but this collaboration between Mahindra & Mahindra and Uno Minda will change the scenario in India’s favour. How much rare earth magnet does China exports? At present China supplies about 90% of the worlds rare earth magnets but the country temporarily banned their export in April 2025 which caused a massive disturbance in the global market. Though the USA and Europe have now started getting supplies India is still for it to be resumed. Under these adverse circumstances the Government of India has decided to become self-reliant and is encouraging private companies to move forward in this direction. What is the significance of Mahindra and Uno Mindas collaboration? According to government sources Mahindra has expressed its desire to manufacture rare earth magnets in India in a recent meeting with the Ministry of Heavy Industries. The Anand Mahindra led company wants to work on a partnership or long-term contract with a local manufacturer. It is worth noting that Mahindra has so far launched two new electric SUVs and wants a stable and continuous supply of rare earth magnets to keep the production going. Meanwhile Uno Minda also wants to establish itself in the rare earth magnet industry. Why are rare earth magnets so important? Rare earth magnets are important for many of todays modern technologies especially for the electric vehicle industry. They are used in devices like electric vehicle motors smartphones computers MRI machines and defense systems. If their supply from China stops then Indias auto and EV industry can suffer big losses and thats why India is now moving towards making these magnets itself. When will manufacturing start in India? According to government sources it may take about 1 to 2 years for India to become completely self-reliant in the field of rare earth magnets. Experts say that instead of waiting in this direction it is necessary to take immediate steps. For this purpose the government is working on incentive and subsidy schemes to promote investment in this sector so that companies in this and related businesses get the much-needed support and domestic production is started as soon as possible.