Critical minerals push: India to make rare earth magnets in Hyderabad; G Kishan Reddy says move to cut China reliance
Speaking to ANI, Reddy said the Centre has tasked the National Institute for Transforming Science and Materials (NFTSM), under the Ministry of Mines, with driving this initiative in partnership with industry players. 'The central government has decided to produce rare earth magnets in Hyderabad. Our Mining Ministry's NFTSM institute is working diligently, along with various industries, to manufacture the necessary machinery,' he said.
Reddy added that a demonstration of India's indigenous capabilities in manufacturing permanent magnets would be ready within the next 3-4 months. 'This initiative involves collaboration between industry, mining, and other ministries, and has been discussed with Prime Minister Narendra Modi. The Central Government is working seriously towards the production of rare earth magnets,' he said.
The move comes in response to China's decision earlier this year to restrict exports of certain rare earth materials.
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'We were 100% dependent on China for rare earth permanent magnets, but recently China denied supplying to us,' the minister said.
In April 2024, China imposed export controls on a list of rare earth-related items, triggering supply disruptions globally and prompting countries like India to fast-track domestic production plans.
Industry bodies have welcomed the government's efforts. Pankaj Mohindroo, Chairman of the India Cellular and Electronics Association (ICEA), praised the initiative, particularly the incentives being considered to support magnet manufacturing.
The push to develop rare earth capabilities falls under the broader Critical Mineral Mission announced by Finance Minister Nirmala Sitharaman in the 2024-25 Union Budget. In January 2025, the Cabinet approved the launch of the National Critical Mineral Mission (NCMM), with a budgeted expenditure of Rs 16,300 crore and an expected investment of Rs 18,000 crore by public sector undertakings.
Rare earth magnets are key components in a range of high-tech applications including
electric vehicles
, mobile phones, wind turbines, and defence systems.
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