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business1d ago
Rare earths magnets: How realistic are India's its ambitions?
- India approved a 73bn-rupee plan in November 2025 to build a domestic rare earth magnets industry.
- The goal is to produce 6,000 tonnes of permanent magnets annually within seven years.
- India aims to meet rising domestic demand as imports from China remain high.
- Experts warn that technology transfer and partnerships are essential for success.
- Heavy rare earths like dysprosium and terbium remain a constraint for India.
- The project includes the National Critical Mineral Mission to bolster stockpiles.
- Concern remains over price competitiveness with cheaper Chinese magnets.
- Analysts say the plan could reduce exposure to China but not eliminate it quickly.
- India holds about 8% of global rare earth reserves but mines less than 1% of output.
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