INDUSTRY
Production of rare earth permanent magnets all set to begin this year: Kishan Reddy
- IBJ Bureau
- Feb 20, 2026
India will begin production of rare earth permanent magnets this year itself, Union Coal and Mines Minister G Kishan Reddy has said. The announcement marks a key step towards self-reliance in critical minerals for electric vehicle (EV) and renewable energy sectors.
Speaking at a conference organised by the FICCI and the Ministry of Mines here, Mr Reddy has highlighted the government’s push under the Aatmanirbhar Bharat initiative to reduce import dependence on rare earth elements.
“In this year itself, permanent magnets production will begin in India,” Mr Reddy has said.
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. Besides, processing remains a key challenge. To address this, the government has identified 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 has added.
Building a complete value-added chain is essential. Otherwise, India will remain dependent on other countries for processed critical minerals, he has said.
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