The Economic Times

Local permanent magnet production to begin in 2026, says mines minister G Kishan Reddy

India is set to commence domestic production of permanent magnets by 2026, with commercial production of Neodymium materials and rare earth permanent magnets expected to begin this year. This initiative, supported by government funding and technology transfer, aims to boost value addition and reduce import reliance. Critical minerals are highlighted as a significant geopolitical concern, especially following China's export halt.