Sansad Tv
India is taking decisive steps toward self-reliance in critical materials by establishing a domestic ecosystem for Rare Earth Permanent Magnets (REPMs) – high-performance magnets essential for electric vehicles, wind turbines, electronics, aerospace, and defence. To support this goal, the government approved a ₹7,280 crore scheme to develop 6,000 MTPA of integrated REPM manufacturing capacity in November 2025, covering the full value chain from rare-earth oxides to finished magnets.
Complementing this, the Union Budget 2026–27 has announced the creation of Dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to promote mining, processing, research, and manufacturing. These initiatives align with the national priorities of Atmanirbhar Bharat, Net Zero 2070, and Viksit Bharat @2047, while positioning India as a key player in global advanced-materials value chains.
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