India to commence production of rare-earth permanent magnet within this year: Mines Minister G. Kishan Reddy
The Hindu
India to start rare-earth permanent magnet production this year, with plans for critical mineral processing parks in multiple states.
India will commence production of rare-earth permanent magnet within this year, Union Minister for Mines G. Kishan Reddy stated Thursday (February 19, 2026).
Rare-earth permanent magnets are among the strongest variant of magnets and utilised in electric vehicles, renewable energy installations, electronics, aerospace and defence. Essential to also note for context, the Union Cabinet had given its nod to a scheme for rare-earth permanent magnet manufacturing, worth 6,000 metric tons per annum, in November last year. This held a financial outlay of ₹7,280 crore.
Editorial:On India and rare earth elements
Further, whilst underlining the government’s imperative for reducing dependency on import of critical mineral at a critical minerals summit of the industry body Federation of Indian Chambers of Commerce & Industry (FICCI), Mr. Reddy also announced the government’s plan to set up dedicated parks for critical mineral processing plants in Odisha, Andhra Pradesh, Maharashtra and Gujarat.
The Member of Parliament from Secunderabad informed the Gujarat government has already initiated work on the front while the state government of Andhra Pradesh has given their nod.
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