New Delhi, February 19 India will begin production of Rare Earth Permanent Magnets (REPMs) this year itself, Union Coal and Mines Minister G Kishan Reddy said on Thursday, marking a key step towards self-reliance in critical minerals for electric vehicles and renewable energy sectors.
Speaking at a conference organized by Ficci and the Ministry of Mines here, Reddy highlighted the government's push under the Aatmanirbhar Bharat initiative to reduce import dependence on rare earth elements.
"Production of permanent magnets will begin in India this year," Reddy asserted.
The announcement comes amid India's focus on securing supplies of neodymium, praseodymium and other rare earths, with the mines ministry auctioning exploration blocks and approving recycling facilities.
India faces a shortage of processing units for critical minerals. Processing remains a key challenge. To address this, the government has identified four states – Andhra Pradesh, Odisha, Maharashtra, and Gujarat – for establishing Critical Mineral Processing Plant Parks.
The Gujarat government has already begun work, and Andhra Pradesh is ready to proceed. "I will soon meet the chief ministers of Odisha and Maharashtra to discuss setting up these plants," the minister said.
Building a complete value-added chain is essential, otherwise India will remain dependent on other countries for processed critical minerals, he explained.
India is taking decisive steps toward self-reliance in critical materials by establishing a domestic ecosystem for REPMs – high-performance magnets essential for electric vehicles, wind turbines, electronics, aerospace, and defence.
To support this goal, the government approved a ₹7,280 crore scheme to develop 6,000 MTPA of integrated REPM manufacturing capacity by November 2025, covering the full value chain from rare-earth oxides to finished magnets.