Rare Earth Magnet Production
India to Become Self-Sufficient in Rare Earth Magnet Production – Govt Announces New Incentives
Anthony Lane
India is launching a PLI-style incentive scheme and fast-tracking mine-regulations to become self-sufficient in rare earth magnet production. Leveraging 6.9 million tonnes of reserves, the plan sets targets of 500 TPY by 2025 and 5,000 TPY by 2030, backed by production bonuses, input subsidies, and policy reforms. Enhanced R&D, environmental safeguards, and public-private partnerships underpin this roadmap, promising a resilient, sustainable, and export-oriented magnet manufacturing ecosystem.
