India’s Rare-Earth Magnet Push: Why the Government Funding of ₹7,280 Cr Matters
India has cleared the decks for a big push to develop domestic capacity in rare-earth permanent magnets, a component that lies at the heart of clean energy, defense technology and electronics manufacturing. The Union Cabinet has cleared a ₹7,280 crore scheme to encourage local production of these magnets that would be used in electric vehicle…