Indian carmakers in Chinese trouble as rare earths supply runs short

The India Business Briefing newsletter discusses the anticipation around the central bank’s rate decision, with expectations ranging from a 0.25 to a 0.5 percentage point cut. It highlights concerns from India’s automobile industry regarding a rare earth supply crunch due to China’s export restrictions, which could stall production, particularly for electric vehicles, while the government seeks to boost local production to reduce reliance on imports. Additionally, Elon Musk’s Starlink is poised to launch in India, having received a letter of intent from the government, although it faces opposition from local telecom companies despite previous partnerships.