The post India approves a $815 million incentive programme to build domestic capacity for rare-earth permanent magnets appeared on BitcoinEthereumNews.com. The Indian government has approved a $815 million investment to boost local production of rare-earth magnets. As demand for EVs, clean energy, and advanced electronics continues to rise, many countries are racing to diversify their rare-earth supply chains after years of heavy reliance on China.  Under India’s new plan, five integrated manufacturing units will be selected, each capable of producing up to 1,200 tonnes per annum, with production expected to start within 2–3 years.  India attempts to become self-reliant for rare-earth magnets The government in New Delhi has formally approved a ₹7,280 crore ($815–816 million) program to support the domestic manufacturing of rare-earth permanent magnets (REPM).   According to the Information and Broadcasting Minister, Ashwini Vaishnaw, the program will help build an integrated REPM supply chain that does the work of converting the rare-earth oxides into metals, then alloys, and finally finished magnets.  The goal is to reach a production capacity of 6,000 metric tonnes per annum (MTPA), by establishing five manufacturing units, each with up to 1,200 MTPA capacity through global competitive bidding. The plan is set to run over seven years. There will first be a two-year gestation period to set up facilities, then five years of incentives to support production and sales.  Major Indian industrial groups like Vedanta Group, JSW Group, and others have shown initial interest in the program.  According to the government, once these plants are operational, India’s dependence on imported permanent magnets could drop to near zero.  However, India’s domestic supply of rare-earth oxides such as neodymium-praseodymium, NdPr remains limited. Only a small portion of the required rare-earth oxide for magnets is currently produced domestically. Firms will likely need to source much of their raw materials from abroad or new mining expansions. Export restrictions affecting supply chains  India’s decision to increase local production of magnets… The post India approves a $815 million incentive programme to build domestic capacity for rare-earth permanent magnets appeared on BitcoinEthereumNews.com. The Indian government has approved a $815 million investment to boost local production of rare-earth magnets. As demand for EVs, clean energy, and advanced electronics continues to rise, many countries are racing to diversify their rare-earth supply chains after years of heavy reliance on China.  Under India’s new plan, five integrated manufacturing units will be selected, each capable of producing up to 1,200 tonnes per annum, with production expected to start within 2–3 years.  India attempts to become self-reliant for rare-earth magnets The government in New Delhi has formally approved a ₹7,280 crore ($815–816 million) program to support the domestic manufacturing of rare-earth permanent magnets (REPM).   According to the Information and Broadcasting Minister, Ashwini Vaishnaw, the program will help build an integrated REPM supply chain that does the work of converting the rare-earth oxides into metals, then alloys, and finally finished magnets.  The goal is to reach a production capacity of 6,000 metric tonnes per annum (MTPA), by establishing five manufacturing units, each with up to 1,200 MTPA capacity through global competitive bidding. The plan is set to run over seven years. There will first be a two-year gestation period to set up facilities, then five years of incentives to support production and sales.  Major Indian industrial groups like Vedanta Group, JSW Group, and others have shown initial interest in the program.  According to the government, once these plants are operational, India’s dependence on imported permanent magnets could drop to near zero.  However, India’s domestic supply of rare-earth oxides such as neodymium-praseodymium, NdPr remains limited. Only a small portion of the required rare-earth oxide for magnets is currently produced domestically. Firms will likely need to source much of their raw materials from abroad or new mining expansions. Export restrictions affecting supply chains  India’s decision to increase local production of magnets…