India targets rare‑earth permanent magnet production by year‑end, minister says
India aims to begin domestic production of rare-earth permanent magnets by year-end, partnering with the private sector, announced Mining Minister Kishan Reddy. The ₹73 billion programme includes four critical mineral processing plants across states. With the world’s third-largest, rare earth reserves, India seeks to cut imports, support EVs, aerospace, defence, and renewable energy, and reduce dependence on China’s supply chain.