Cabinet clears Rs 7,200 cr rare earths scheme – why it’s important

India is set to significantly bolster its rare earth magnet production with the Union Cabinet approving a Rs 7,280 crore scheme. This pioneering initiative aims to establish integrated manufacturing facilities, boosting domestic capacity to 6,000 metric tons annually. The seven-year plan focuses on the entire value chain, from oxides to finished magnets, enhancing India’s strategic self-reliance.