Schedule a Call Back
India Triples Rare Earth Magnet Investment to Cut China Reliance: Report
Articles- Nov 04,25
India is set to boost its rare earth magnet manufacturing capacity by nearly tripling its incentive programme to over Rs 70 billion ($788 million), aiming to reduce reliance on China.
The Indian government is planning a significant expansion of its rare earth magnet manufacturing capabilities, with a proposal to nearly triple the size of its incentive programme to more than Rs 70 billion ($788 million), according to a report by Bloomberg.
This move is designed to strengthen domestic production in a sector that is currently dominated by China. Rare earth magnets are critical components in industries such as electric vehicles, renewable energy, and defence. The expanded programme is a major step forward from the previous initiative, which was valued at $290 million and focused on securing supplies of these essential materials.
The new plan is part of India’s broader strategy to enhance its manufacturing capabilities in strategic industries, reduce reliance on Chinese imports, and secure a more self-sufficient supply chain for critical technologies.
(Source: India Today)
(Source: India Today)
Rare earth magnets
India
Incentive programme
Defence
Bloomberg
China reliance
Manufacturing capacity
Electric vehicles
Renewable energy
Related Stories
Auto & Auto Components
Carraro India opens first authorised service centre in Faridabad
New Faridabad hub marks Carraro India’s aftermarket expansion, with four centres planned nationwide by 2026.
Read moreElectrical & Electronics
ABB India launches ArTu Formula LV switchgear for safer power distribution
ABB India introduces IEC-compliant ArTu Formula LV switchgear to support diverse applications and India’s growing power needs
Read moreOther Industrial Products
Resilience in Metal: Forging the Make in India Future in a VUCA World
The article examines how India’s stainless steel sector can turn global volatility, CBAM and supply risks into strategic advantages through sustainability, quality enforcement and digital transfor..
Read moreRelated Products
Automotive Oil Pump
AUTO COMPONENTS & ACCESSORIES
Kalpak Auto Pvt Ltd offers a wide range of
automotive oil pump.
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
