India invests $872mn to locally produce rare earth permanent magnets
New Delhi launches a 72.8 bn INR incentive plan to build a 6,000-tonne domestic capacity for permanent magnets, amid rising Chinese export restrictions on critical components.
| Sector | Métaux critiques, Énergie Éolienne, Mobilité, Terres rares, Terrestre |
|---|---|
| Theme | Investissements & Transactions, Investissement Public |
The Indian government has approved a public programme worth INR7,280 crore ($872mn) to establish a complete production chain for rare earth permanent magnets, targeting an annual capacity of 6,000 tonnes. This initiative aims to reduce the country’s dependence on China, which holds a dominant position in mining, refining and manufacturing of these strategic components.
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