Countering China: India eyes Rs 1,345 crore scheme on rare earth magnets; Indian companies express interest – Times of India
The Ministry of Heavy Industries Secretary, Kamran Rizvi, confirmed that the draft scheme for processing rare earth magnets has been distributed. (AI image) Amidst ongoing supply choke for rare earths from China, India has announced its plans to develop rare earth magnets domestically. The government has allocated Rs 1,345 crore towards establishing domestic production capabilities…
