🇮🇳 India’s Rare Earth Revolution

Byvigyan2
India’s Rare Earth Magnets Revolution

🇮🇳 India’s Rare Earth Revolution

₹7,280 Crore Scheme to Transform Magnet Manufacturing

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Cabinet Green Light

Prime Minister Narendra Modi’s cabinet approved a groundbreaking ₹7,280 crore scheme on Wednesday to promote rare earth permanent magnets (REPM) manufacturing.

First-of-its-Kind Initiative

This historic move positions India as a key player in the global REPM market, enhancing self-reliance and technological competitiveness.

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Why It Matters

Rare earth permanent magnets are foundational for:

  • Electric vehicle motors
  • High-efficiency systems
  • Advanced electronics
  • Sensors and drivetrains
Critical for EV Revolution

The scheme will boost clean mobility adoption and strengthen India’s energy security.

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By The Numbers

₹7,280 Crore Investment
5,000 Tonnes Annual Demand
6.9 MT India’s Deposits

India ranks among the top three countries for rare earth deposits, with reserves found along beaches in “placer deposits”.

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Strategic Vision

Minister Ashwini Vaishnaw announced the scheme follows India’s semiconductor mission model.

Timeline:

Self-Reliance in 3-4 Years

Whole-of-Government Approach:

  • Semiconductor mission alignment
  • Critical minerals mission integration
  • Resilient supply chain building
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Industry Response

Who Can Participate: Both public and private sector firms from electronics, automobiles, and steel industries.

Transparent Selection Process

Industry Leaders Say:

“This addresses one of the most critical gaps in the EV and advanced mobility ecosystem.”

Key Benefits:

  • Reduced crude oil dependence
  • Strengthened energy security
  • Competitive manufacturing ecosystem

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