India is working on a £1 345-Crore scheme for encouragement of local production of rare soil magnets, at a time when the Chinese limitation of these critical items threaten large distribution of the automotive industry.
The subsidy scheme discusses various ministries, said the Minister of the Heavy Industry of the HD Kumaraswamy and added that the final proposal will be sent to the Union cabinet.
“We sent the first outline for the intermediate,” Kumaraswamy said in response to the question of rare soil magnets.
Mint on June 17 announced that there was an incentive program for processing oxides of rare soils and the production of permanent magnets.
The Minister of the Heavy Industry Kamran Rizvi said incentives will be provided to two manufacturers who can process the rare country magnets from rare soil oxides. The scheme will be for the end-to-end processing of rare soil magnets, he said.
The scheme comes as a reaction to an export, issued by the Chinese Ministry of Trade in April, leading to a massive supply of rare soil magnets widely used in electronic gadgets, cars and heavy machines.
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China instructs 90-95% of the world’s metal processing capacity, allowing it to use its exports for its own benefit. Elements of rare soils and their products are used in strategic sectors such as renewable energy, pure mobility and electronics.
India also indicated the disruption of supplier chains on the global phase. Prime Minister Narendra Modi on July 7 at the 17th conference BRICS said that the creation of critical mineral supplier chains is crucial and that no country uses these resources for its own selfish profits or as a weapon against others.
“We must cooperate to create supplier chains for critical minerals and technologies safe and reliable. It is important to ensure that no country uses these resources for its own selfish profit or as a weapon against others,” Modi said.
India is also part of the Quad Critical Minerals initiative, where the US, Australia, Japan and India have committed to working and diversifying the supply chains of 2 July.
Irel, a state society, is the only refiner of rare countries in India, with the ability to produce about 1,500 tons of rare soil magnets per year.
Mint 24 June announced that the government had received proposals during consultations by participating parties on financing about 20-50% of the cost of processing rare countries for the production of magnets.
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“In the Earth’s crust, rare soils are relatively abundant, but extractable concentrations are less common than most other mineral commodities,” said American geological survey 2025, adding that rare countries are available for many applications, but are generally less effective.
In advanced automotive applications, rare soil magnets, such as neonsmium-weighing, are used. These are basic components in traction engines for electric vehicles and in control engines in passenger vehicles for electric and fossil fuels.
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