Imports of permanent magnets, used in cars and other electronics, from China have resumed after India started issuing certificates assuring compliance to relevant diktats. Officials said the Directorate General of Foreign Trade ( DGFT) has issued around 30 certificates, one for each consignment, assuring these permanent magnets will not be used for defence applications nor will they be re-exported to the United States.
“China is seeking assurance from the Indian government on the use of permanent magnets. Relevant documents are being issued by the DGFT which has been made the nodal agency for addressing these concerns,” a senior official told ET while adding that each consignment needs to be separately certified.
“The process has been streamlined now,” a second official said.
In April this year, China levied restrictions on exports of permanent magnets in a bid to counter US President Donald Trump’s aggressive stand on trade. Importers seeking to buy Chinese permanent magnets had to give an undertaking that these products will not be used for military applications. For Indian companies, the undertaking needed to be accompanied by an assurance by the Indian government. Re-export of these permanent magnets to the US was also barred.
Domestic industry bodies lobbied with the Indian government which appointed DGFT as the nodal agency for issuing these certificates. Chinese officials are said to have started clearing the pending consignments within 10 days of certificates being received.
India imported Electromagnets, Permanent Magnets, Magnet Chucks and Clamps worth $ 252.74 million during 2024, 6.4% up from the same months of 2023.
“China is seeking assurance from the Indian government on the use of permanent magnets. Relevant documents are being issued by the DGFT which has been made the nodal agency for addressing these concerns,” a senior official told ET while adding that each consignment needs to be separately certified.
“The process has been streamlined now,” a second official said.
In April this year, China levied restrictions on exports of permanent magnets in a bid to counter US President Donald Trump’s aggressive stand on trade. Importers seeking to buy Chinese permanent magnets had to give an undertaking that these products will not be used for military applications. For Indian companies, the undertaking needed to be accompanied by an assurance by the Indian government. Re-export of these permanent magnets to the US was also barred.
Domestic industry bodies lobbied with the Indian government which appointed DGFT as the nodal agency for issuing these certificates. Chinese officials are said to have started clearing the pending consignments within 10 days of certificates being received.
India imported Electromagnets, Permanent Magnets, Magnet Chucks and Clamps worth $ 252.74 million during 2024, 6.4% up from the same months of 2023.
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