Explained: All about India's ₹7,280 crore push to build rare earth magnet industry

Last Updated: Nov 28 2025 | 11:37 AM IST

The Union Cabinet has approved a landmark ₹7,280 crore scheme to build India’s first integrated rare earth permanent magnet manufacturing ecosystem—aimed at powering electric vehicles, renewable energy, defence, and electronics, while cutting import dependence and strengthening energy security.

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