China’s Commerce Ministry has reportedly alleged that India’s recent measures grant its industries an “unfair competitive advantage”, harming China’s interests in global trade. The ministry warned that Beijing would take “firm steps” to protect its domestic industries and safeguard their rights.
Earlier data from market research firm Rho Motion showed that China contributed nearly two-thirds of global electric vehicle (EV) sales, accounting for about 1.3 million units.
Meanwhile, India is preparing to launch the National Critical Mineral Stockpile (NCMS) programme, according to The Economic Times. The initiative aims to secure the supply of rare earth elements and boost domestic production of these crucial minerals. Such minerals are vital for manufacturing electric vehicles, wind turbines, and green energy technologies.
The move is seen as strategically advantageous for India, particularly following China’s export restrictions on rare earth elements, which dominate global supply chains. By building its mineral reserves, India hopes to strengthen its clean energy ecosystem and reduce dependency on imports.
