22 October 2026
ADVERTISEMENT
ADVERTISEMENT

Rare Earth Revolution in India: Government’s ₹7,280 Crore Magnet Manufacturing Plan to Transform Strategic Industries

India is strengthening Rare Earth Permanent Magnet Manufacturing with major investments, new corridors, and domestic production plans to reduce imports and boost strategic industries.
India Rare-Earth Magnet Capacity
Indian Masterminds Stories

New Delhi: India is rapidly moving towards self-reliance in Rare Earth Permanent Magnet Manufacturing, a key sector for future technologies. According to the latest government data, India has significant rare earth reserves but still depends on imports for finished products. To reduce this gap, the government of India has launched major initiatives to build domestic manufacturing capacity. 

These efforts will support industries like electric vehicles, renewable energy, electronics, and defence, making India a strong global player in critical minerals.

Details of Indigenous Rare Earth Permanent Magnet Manufacturing

India has a solid foundation of rare earth minerals:

  • Around 7.23 million tonnes of rare earth oxide resources are found in monazite deposits.
  • These deposits are spread across states like Odisha, Kerala, Andhra Pradesh, Tamil Nadu, West Bengal, Gujarat, Maharashtra, and Jharkhand.
  • Additionally, 1.29 million tonnes of rare earth resources exist in hard rock areas of Gujarat and Rajasthan.

Read also: From Mining to Magnets: How Union Budget 2026–27 Is Building India’s Rare Earth Manufacturing Ecosystem

These resources show that India is not dependent on imports for raw rare earth minerals.

Why India Still Depends on Imports

Even with strong reserves, India faces challenges:

  • Low-grade ores make extraction difficult and expensive.
  • Presence of radioactive elements increases complexity.
  • Environmental restrictions like CRZ rules and forest laws limit mining.
  • Lack of strong midstream industries reduces demand for processed materials.

Because of these issues, India still imports rare earth magnets and related products.

Government Launches ₹7,280 Crore REPM Scheme

To solve this problem, the government approved a major scheme:

  • Total investment: ₹7,280 crore
  • Target: 6,000 Metric Tonnes Per Annum (MTPA) of magnet production
  • ₹6,450 crore as sales-linked incentives
  • ₹750 crore as capital subsidy for new plants

This scheme aims to create a complete manufacturing ecosystem, from raw materials to finished magnets.

What Are Rare Earth Permanent Magnets (REPM)?

Rare Earth Permanent Magnets are:

  • Among the strongest magnets available
  • Used in electric vehicles, wind turbines, electronics, aerospace, and defence systems
  • Critical for future technologies and clean energy transition

These magnets are essential for modern industries, making them strategically important.

Vizag Magnet Plant and New Corridors

The government has already taken steps on ground:

  • A REPM plant in Visakhapatnam (Andhra Pradesh) produces Samarium-Cobalt magnets used in defence and atomic energy.
  • Rare Earth Corridors announced in:
    • Odisha
    • Kerala
    • Andhra Pradesh
    • Tamil Nadu

These corridors will support mining, processing, research, and manufacturing.

Indigenous Rare Earth Permanent Magnet Manufacturing: Boost to Make India a Global Player

The new initiatives will:

  • Reduce import dependency
  • Strengthen Atmanirbhar Bharat mission
  • Create jobs and industrial growth
  • Position India in the global rare earth supply chain

India aims to become a major hub for advanced materials and magnet manufacturing in the coming years.

Read also: Indian Rare Earth Push: How New Policies Aim to Power EVs, Renewable Energy and High-Tech Manufacturing


Indian Masterminds Stories
Join our WhatsApp Channel
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
Mohan Yadav Jan Vishwas Abhiyan
MP CM Mohan Yadav Directs Officials to Resolve Public Grievances During Jan Vishwas Abhiyan
IPS Ankita Sharma
Who Is IPS Ankita Sharma? Viral AK-47 Firing Video Draws Weapon Safety Concerns from Ex-Army Officer
Defence Secretary Rajesh Kumar Singh
Race for India’s Next Defence Secretary Heats Up: Will R K Singh Get an Extension? Who Are the Other Contenders?
Madhya Pradesh Logo IM
Madhya Pradesh Transfers 3 IAS Officers; Akshay Temrawal Moved to Urban Development Directorate
BEL Defence Orders BEL
BEL Secures Additional Orders Worth ₹1,011 Crore for Radar, Sonar and Defence Equipment
NBCC defence infrastructure project
NBCC Appoints Ashutosh Gautam as Director (Projects), Brings Over 34 Years of Infrastructure Experience
BEL Radar Contract
MoD Signs ₹770 Crore Contract with BEL to Supply Advanced Low-Level Radars to Indian Army
MECON Zyfra MoU
MECON and Zyfra LLC Sign MoU to Boost Digitalisation and Automation Across Key Industries
ADVERTISEMENT
ADVERTISEMENT
Videos
Gajendra Singh Shekhawat
How India Plans to Boost Tourism, Create Jobs and Ease Overcrowding : Gajendra Singh Shekhawat on the Road to 2047
Dr Saket Badola IFS
Beyond Tigers and Safaris: How Corbett Literature Festival Wants to Change the Conservation Conversation
PK Jena
Why Technology Cannot Replace Human Connection in Governance: P.K. Jena
ADVERTISEMENT
UPSC Stories
Mavis tak
From Dropping Out of School to Becoming an IPS Officer : How a Father’s Unwavering Support Helped Mavis Tak Achieve Success
For Mavis Tak, becoming an IPS officer once seemed like a distant dream. Despite financial struggles...
Bhikan Rojekar UPSC
He missed MBBS by 1 mark in 2016; Maharashtra’s Bhikan Rojekar secures UPSC AIR 812
Bhikan Rojekar secured AIR 812 in UPSC CSE 2025 in his third attempt. Read how the son of a farm labourer...
Umar Janj UPSC CAPF
15+ Failures Couldn’t Stop Him: Umar Janj Secures AIR 160 in UPSC CAPF 2025
After multiple SSB setbacks, a CAPF interview miss by 12 marks and more than 15 failures, Umar Janj secured...
CSR NEWS
MGL CSR initiative
MGL Donates 30-Seater Hydraulic-Lift Bus to NIEPID Davangere Under MGL Saksham CSR Initiative
Inaugurated by MGL Vice President Sanket Dhotre on October 15, 2026, the accessible bus is expected to...
EIL CSR-
Engineers India Distributes Assistive Devices to 55 Divyangjans in Gurugram Under CSR Initiative
EIL’s CSR initiative provides motorised tricycles, hearing aids, wheelchairs and other aids to promote...
HPCL Gorakhpur cricket stadium
HPCL Commits ₹10 Crore Under CSR for International Cricket Stadium Development in Gorakhpur 
The CSR contribution aims to strengthen sports infrastructure, promote grassroots cricket, create employment...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Mohan Yadav Jan Vishwas Abhiyan
MP CM Mohan Yadav Directs Officials to Resolve Public Grievances During Jan Vishwas Abhiyan
IPS Ankita Sharma
Who Is IPS Ankita Sharma? Viral AK-47 Firing Video Draws Weapon Safety Concerns from Ex-Army Officer
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Gajendra Singh Shekhawat
Dr Saket Badola IFS
PK Jena
ADVERTISEMENT
ADVERTISEMENT