India is prioritizing the development of domestic rare-earth permanent magnet (REPM) manufacturing to reduce import dependence, secure supplies of critical minerals, and support clean-energy, electric mobility, electronics, and defence sectors. The initiative aligns with national strategies such as the National Critical Minerals Mission and recent mining-policy reforms that promote exploration, processing, and private participation. Alongside international partnerships and resource acquisition efforts through KABIL, strengthening REPM capacity positions India to build resilient supply chains, advance self-reliance, and integrate more strongly into global value chains for advanced materials.
Click to View MoreThe Union Cabinet has approved a ₹7,280 crore scheme to set up India’s first integrated Rare Earth Permanent Magnet manufacturing facilities, targeting 6,000 MTPA capacity. It will reduce import dependence, support EVs and renewable energy, and contribute to Net Zero goals. The government also approved Pune Metro Phase 2 and two major railway infrastructure projects in Gujarat and Maharashtra.
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