Pune firm cracks rare earth code; magnet gap stays

China had imposed an export ban on rare earth magnets and stopped shipping metal-processing equipment in April.

- T.Surendar

Last November, Vikram Dhoot, managing director of Pune-based Ashvini Magnets, began receiving an unusual flurry of calls and emails from Chinese companies. They wanted to collaborate, transfer technology and supply materials—without any active solicitation.

Dhoot was used to an occasional inquiry every few months. The sudden attention puzzled him.