Govt pushes rare-earth magnet capacity, India seeks control over critical manufacturing inputs: Shaktikanta Das
BusinessLine 1 hr ago·5 Oct 2026, 3:52 am
The Reserve Bank of India Governor Shaktikanta Das announced that the government is actively working to develop domestic capabilities for producing rare-earth magnets. These components are essential for electric vehicles, wind turbines, and advanced electronics. By focusing on this sector, India aims to reduce its reliance on imports and secure a more stable supply chain for critical manufacturing inputs.
This move is significant for investors as it signals a long-term shift toward self-reliance in high-tech industries. Developing local production capacity could lower costs and insulate the Indian market from global supply disruptions. It also aligns with broader government initiatives to boost domestic manufacturing and technological independence.
Investors should monitor the progress of policy implementation and the success of domestic players entering this specialized field. Tracking government contracts and technological advancements will be key to understanding the sector's growth potential.
Excerpt from BusinessLine
The government is moving to build domestic capacity for rare-earth permanent magnets, which are critical for automobiles, electronic hardware and other manufacturing, Principal Secretary-2 to the Prime Minister Shaktikanta Das said at the Kautilya Economic Conclave 2026. Das said the government has responded to…Read the original at BusinessLine
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