India Eyes Domestic Rare-Earth Magnet Production

In response to tightening Chinese export controls, India announced a ₹1,345 crore (USD $160M) initiative to localize rare-earth magnet production, critical for EVs, wind turbines, and defense. Backed by firms like Mahindra and Uno Minda, the plan aims to scale refining and value-added manufacturing using India’s untapped reserves. Officials stress the need to embed environmental safeguards and social license to operate (SLO) to ensure sustainable growth and community support.