China lifts curbs on exports of rare earth magnet to India, as per a report by Reuters on Tuesday, Aug 19. The report came at a time when Wang Yi is currently on a visit to India. According to a tweet by CNBC-TV18 on X, Wang Yi has assured External Affairs Minister S Jaishankar that China will work to resolve three key issues flagged by India —fertilisers, tunnel boring machines along with the supply of rare earth magnets.
According to ET, Jaishankar was assured on Monday that China had already started responding to India’s requests on these three items. The understanding on the Indian side is that shipments have already begun. China has previously committed to speeding up export licenses for Europe and the US without actually dismantling the control regime.
China had earlier imposed strict export restrictions on rare earth magnets and related materials starting April 4. The Indian foreign and mines ministries did not respond immediately to Reuters requests for comment. China’s commerce ministry also did not immediately respond to a request for comment.
It was not immediately clear whether China had agreed to approve export licenses faster or grant blanket exemptions for India.
PM Modi to visit China
During his two-day visit to India, Chinese Foreign Minister Wang Yi also met NSA Ajit Doval today at the Hyderabad House in the national capital. According to ANI he is also also scheduled to meet Prime Minister Narender Modi later in the day.
Wang Yi’s visit comes ahead of Prime Minister Narendra Modi’s expected trip to China to attend the Shanghai Cooperation Organisation (SCO) summit in Tianjin from August 31 to September 1.