India launches magnet plants to reduce rare earth reliance.

India seeks self-reliance in rare earth materials for green energy and defense. Union Minister Jitendra Singh highlighted the launch of a Samarium Cobalt Magnet Plant and a Neodymium-Iron-Boron pilot project. While domestic capacity is projected to reach 5,000 tonnes by 2030, demand is expected to rise to 8,000 tonnes, leaving a significant gap to be filled.