‘Inter-ministerial efforts to pave way for India’s self-reliance in rare earth magnets’
New Delhi: Union The Minister for Heavy Industries and Steel H D Kumaraswamy on Tuesday said inter-ministerial efforts will pave the way for India to become self reliant in the rare earth magnets, crucial for EVs, electronics, defence and other sectors. He said this after chairing an inter-ministerial meeting along with coal and mines minister G Kishan Reddy.
“Chaired a meeting with Union Minister Shri @kishanreddybjp...to address the issues of rare earth magnets. Senior officials from ministry of Heavy industries, ministry of steel, ministry of mines, ministry of commerce and industry and department of atomic energy were present. “This inter-ministerial effort will pave the way for India’s self-reliance in strategic materials crucial for EVs, electronics, defence and other sectors,” Kumaraswamy said in a post on X.
_Reddy, in a post on X said discussions focused on strengthening the value chain, from mining to refining to end-use. “@narendramodi govt has implemented the National Critical Mineral Mission (NCMM) and is adopting a whole-of-government approach to make India #Atmanirbhar in minerals,” he said.
China’s recent export controls on rare earth elements and related magnets are affecting multiple global industries. In India, the auto and home appliance sectors have raised concerns over delayed supplies of essential components such as samarium, gadolinium, terbium,dysprosium, and lutetium. These rare earth elements are vital for electric motors, braking systems, smartphones, and even missile technologies.
China currently controls over 90 per cent of the global processing capacity for rare earth magnets, giving it significant leverage in global supply chains.
According to industry sources, a delegation comprising 40-50 automotive industry executives, which was gearing up to visit China for expediting the import of rare earth magnets to Indian entities, is still awaiting a confirmation from the Chinese authorities for a meeting.