Govt pushes rare-earth magnet capacity as India seeks greater control over critical manufacturing inputs: Shaktikanta Das

The government is working to build domestic capacity for rare-earth permanent magnets, crucial for automobiles, electronics and other manufacturing, Principal Secretary-2 to the PM Shaktikanta Das said. The move follows China’s restrictions on rare-earth exports, which exposed India’s dependence on Chinese supplies, estimated at 80–90% of the global rare-earth magnet ecosystem.