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Govt meets 20 firms on 7,280-crore rare earth magnets scheme

Union minister H.D. Kumaraswamy led a consultation with 20 companies on a 7,280-crore scheme to boost manufacturing of rare earth magnets. The government assured supply of 500 tonnes of rare earth oxides to enhance raw material security, crucial for EVs, renewables, and defense equipment.

12 Jan 2026 9:12 pm