Latest news with #RareEarthPermanentMagnet
Hindustan Times
21 hours ago
- Business
- Hindustan Times
India's rare earth push aims to reduce reliance on imports: Report
India is making efforts to reduce its reliance on imported rare earth materials, which are vital to electric vehicles (EVs), renewable energy systems, electronics, and defense applications. Consulting firm Primus Partners has published a paper called "From Extraction to Innovation," which lays out a plan to ramp up domestic capabilities in critical rare earth magnets, as part of the government's overall aim to build domestic development. Consulting firm Primus Partners has published a paper called "From Extraction to Innovation," which lays out a plan to ramp up domestic capabilities in critical rare earth magnets, as part of the government's overall aim to build domestic development. Policy vision versus ground reality The report lays out five recommendations that, on paper, create a roadmap for India. These comprise long-term price guarantees on neodymium-praseodymium (NdPr) oxide and NdFeB magnets, pilot hubs in our mineral abundant states, ramping up of production at Indian Rare Earths Limited (IREL), a national magnet stockpile and a central coordination cell with NITI Aayog or DPIIT. It also suggests a National Rare Earth Innovation Hub to encourage research and global technology partnerships. Collectively, these concepts offer a systematic methodology, but they also highlight just how much of India's rare earth plans are only beginning. Also Read : China+1 strategy boosts India's role in global auto component supply chains: Reports Small steps forward Recent actions reflect intent but also the magnitude of the deficit. The Union Budget 2024–25 granted customs duty exemption on essential minerals, indicating policy encouragement. And last year, IREL commissioned a Rare Earth Permanent Magnet (REPM) facility in Visakhapatnam. At ₹197 crore and with an annual capacity of 3,000 kg, the facility is a milestone — yet modest when compared to global production volumes. Global dependence remains entrenched The elephant in the room is still China. Controlling nearly 90 per cent of global rare earth magnet production, Beijing's dominance has left supply chains vulnerable to policy shifts and export restrictions. India, despite its mineral potential, is still far from matching that scale. Exploration projects in Jammu & Kashmir, Rajasthan, Jharkhand and Karnataka have begun, while Khanij Bidesh India Limited (KABIL) is seeking overseas tie-ups. But these are long-gestation efforts. Rising demand, sharper risks The pressure is only set to grow. India has set a target of 30 per cent EV penetration by 2030 and net-zero emissions by 2070. Each EV requires up to 2 kg of NdFeB magnets, and demand could cross 7,000 tonnes by 2030, according to the report. This demand goes beyond mobility — renewable energy, automation, and defence all compete for the same resources. The irony is clear: India's clean energy transition could become dependent on a resource it does not yet control. The roadmap offers direction, but unless mining, refining, and manufacturing capabilities are scaled up quickly, India risks swapping one form of energy dependence for another. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date:
News18
07-08-2025
- Business
- News18
With Trump's Tariff Tactics, India Seeks Rare Earth Self-Reliance; Kumaraswamy Reveals Big Push
The union minister detailed the roadmap ahead for India's rare earth ecosystem in the exclusive interview As global trade barriers harden and Trump-era tariff threats resurface, India is doubling down on self-reliance in critical sectors like rare earth elements. Led by Prime Minister Narendra Modi and his office (PMO), the ministries of steel, mines, and heavy industries, along with the inter-ministerial coordination groups, are building a strategic roadmap to cut import reliance in rare earth processing and Rare Earth Permanent Magnet (REPM) manufacturing. In an exclusive interview with News18, HD Kumaraswamy, union minister of heavy industries and steel, detailed the roadmap ahead for India's rare earth ecosystem. Excerpts: Beyond current mining operations, what strategic steps are being taken by the government to build a self-sustaining rare earth industry in India? PM Modi has consistently emphasised the importance of self-reliance and self-sustainability in all cabinet meetings. Inspired by his vision, we have steadily and systematically embarked on the path toward technological sovereignty. Indian Rare Earths Limited (IREL), in association with Bhabha Atomic Research Centre (BARC) and Defence Metallurgical Research Laboratory (DMRL), has prepared a draft report titled 'Incentivisation framework for establishing downstream industry using Rare Earth elements" and supported by NITI Aayog as well. Based on the report, MHI, in consultation with NITI Aayog, is formulating a scheme to incentivise REPM manufacturing in the country. In this regard, MHI had conducted two industry stakeholder consultations on September 26 and June 17 and an inter-ministerial consultation with the ministry of mines on June 17. Are there plans to secure rare earth magnets from non-China partner countries? If yes, which are these counties, and what possible quantity can be tapped? As mentioned earlier, MHI has carried out two stakeholder consultations on September 26 and June 6 to work out gaps and disabilities and formulate the contours of a scheme to promote REPM manufacturing, which will help in developing indigenous manufacturing capacities and capabilities in the country. PM Modi has consistently guided inter-ministerial efforts, and it is due to his relentless commitment that we are steadily moving towards our goal. IREL is the only miner and processor of REO (rare earth oxides). So, is there a plan to bring in more players and ensure a supply chain for REOs? At present, mining and processing of rare earth oxides is being done by IREL only, which is under the administrative control of the Department of Atomic Energy (DAE). DAE is the sole authority to ensure a supply chain for REOs in the country and to allow new players to participate in this area. Right now, most of the mines in India are yet to be at an exploratory stage, that is, mining and deposit verification, while extraction is yet to happen. How is MHI coordinating with the mines ministry to increase the number of mining block auctions and set the processing tech while speeding up deposit discovery and mining activities? Mining block auctions, processing tech, deposit discovery and mining activities are under direct control of the ministry of mines. MHI had an inter-ministerial consultation with the ministry of mines, DAE, and ministry of commerce on June 17, wherein MHI requested the ministry of mines to explore the possibility of enhancing the availability of RE (rhenium) oxides in the country. DAE is also working on enhancing IREL's capacity to produce REOs. The MHI had planned a PLI. Which are these companies that have so far evinced interest in coming up with such plans? Any details on them? MHI is working on an incentivisation framework to promote REPM manufacturing in the country, and for that, MHI had multiple consultations with the industry to assess the support required by the industry. Many companies related to auto and auto component manufacturing, defence, etc, have expressed their explicit interest in setting up an integrated REPM manufacturing facility in the country. How will the PLI play out? Some scheme details could help… The scheme to promote REPM manufacturing envisages incentives for REPM sales and capital subsidy to set up the integrated REPM manufacturing facility in the country. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
