China Pledges to Ease Export Restrictions on Rare Earths to India
(MENAFN) China has pledged to address India's pressing trade concerns surrounding critical exports such as rare earth materials, fertilizers, and tunnel-boring equipment, according to multiple Indian media outlets on Tuesday.
The assurance reportedly came during bilateral discussions between Chinese Foreign Minister Wang Yi and his Indian counterpart S. Jaishankar, ANI reported. According to media sources within the Indian government, Beijing has already begun acting on New Delhi's requests. Meida noted that initial shipments tied to these commodities have started moving.
Wang is currently in New Delhi for a high-stakes three-day diplomatic visit. During his stay, he is set to engage in boundary negotiations with Indian National Security Adviser Ajit Doval and will also hold talks with Prime Minister Narendra Modi.
The talks follow mounting tensions after China imposed export restrictions in April on seven categories of medium-to-heavy rare earths and related magnets. As the world’s dominant producer of rare earth magnets, China’s curbs have sent shockwaves through global supply chains vital to the aerospace, auto, and semiconductor sectors.
In parallel, India has reportedly faced hurdles in securing Chinese fertilizers and tunnel-boring machinery—two areas crucial for the nation’s agricultural and infrastructure sectors.
In a public statement made Monday, Jaishankar emphasized the importance of a positive trajectory in bilateral ties, stating that India seeks a “stable, cooperative, and forward-looking relationship” with China.
Amid rising global protectionism, both Asian giants are exploring expanded economic collaboration. This comes as they confront elevated trade barriers from the United States.
Responding to current global turbulence, Wang highlighted growing instability marked by rising unilateralism and threats to free trade and the global order, according to media reports.
He also emphasized the need for both China and India to take on greater global responsibilities, urging the two nations to act as major powers and support the advancement of a multipolar world, the reports said.
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