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India plans to become self-reliant in rare earth magnets, reducing dependence on China.
India is developing a roadmap to become self-reliant in rare earth magnets, crucial for electric vehicles and renewable energy, through five policy pillars.
These include market assurance, setting up mineral hubs, supporting industrial leaders, expanding mining and refining, and creating a national buffer stock.
The plan also suggests a National Rare Earth Innovation Hub and a Magnet Ecosystem Coordination Cell.
This move aims to reduce dependence on China, which controls 85-95% of global rare earth magnet production, and to meet India's rising demand estimated at 7,154 tonnes by 2030.
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La India planea volverse autosuficiente en imanes de tierras raras, reduciendo su dependencia de China.