India’s first integrated magnet manufacturing push
The federal Cabinet has cleared a Rs72.8 billion scheme aimed at creating India’s first fully integrated REPM manufacturing ecosystem. The initiative is designed to establish 6,000 metric tonnes per year (MTPA) of magnet-making capacity — a scale never attempted in the country.
What are rare earth magnets?
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Rare Earth Permanent Magnets (REPMs)
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Made from alloys of rare earth elements such as neodymium, praseodymium and samarium
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Among the strongest magnets in the world
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Enable compact, high-efficiency motors
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Essential for EVs, wind turbines, aerospace, defence tech, drones and electronics
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Global supply dominated by China
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Considered strategically sensitive due to widespread high-tech applications
According to the government, the plan will:
Industry welcomes the push
Why rare earth magnets matter more than ever
Officials expect the initiative to:
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