Production of rare-earth magnets by yr-end: Govt, Pg16

Key Highlights:

• India will begin producing rare-earth permanent magnets (REPM) by the end of 2026.
• The NonFerrous Materials Technology Development Centre (NFTDC) has developed domestic technology for REPM production.
• The government approved a scheme of Rs 7,280 crore to promote REPM manufacturing in November 2025.
• Four states, including Andhra Pradesh, Odisha, Gujarat, and Maharashtra, have been identified to promote critical mineral processing plants.

Detailed Insights:

• REPMs are essential for technologies like electric vehicles, renewable energy systems, electronics, aerospace, and defense.
• Currently, China dominates the REPM market, controlling over 90% of manufacturing and raw material processing.
• The government aims to strengthen domestic processing and refining to stop raw material export and promote value creation within India.
• India is in discussions with the US, France, and Canada to establish an alternative supply chain for critical minerals and reduce dependence on a single country.
• Over 4,000 critical mineral exploration-related activities have been initiated recently to boost domestic production.
• India supports the US-led FORGED (Forum on Resource, Geostrategic Engagement) initiative on critical minerals to diversify supply chains.

Key Concepts Involved:

• (REPM): High-strength magnets crucial for various technologies, including EVs and renewable energy.

Rare-Earth Permanent Magnets

• Critical Minerals: Minerals essential for economic and technological development, with supply chains vulnerable to disruption.
• Supply Chain Diversification: Strategy to reduce reliance on a single source for critical materials, ensuring a stable and secure supply.