India’s ₹1,000 Crore Push for Rare Earth Magnet Manufacturing | Game Changer for EVs & Defense Tech?

India is stepping into the rare earth race!

The Indian government is planning a ₹1,000 crore production-linked incentive (PLI) scheme to boost domestic rare earth magnet manufacturing, a key component in electric vehicles (EVs), wind turbines, electronics, and defense systems.

#RareEarthMagnets #MakeInIndia #AtmanirbharBharat #EVIndia #PLI2025 #IndianManufacturing #TechPolicyIndia #ElectricVehicles #GreenEnergy #IndiaNews

~PR.304~ED.70~

Transcript

00:00Hi guys and welcome to drive spark and in today's news we are going to tell you that the government

00:06has decided to apply subsidy schemes for rear earth magnets. Now before starting let us understand

00:12what exactly are rear earth magnets. Now rear earth magnet is a magnet made up of rear earth

00:18elements which is in the lanthanide series of the metal in the periodic table. Now the two most

00:24common rear earth magnets are neodium and samarium cobalt. Now the government will take a decision

00:29on rolling out a scheme for subsidy domestic production of rear earth magnets in 15 to 20

00:34days. That was said by union minister Mr. Kumaraswamy. Now the total initiative involves a cost of rupees

00:401,000 crore. The scheme will be sent to the union cabinet for approval. That was said by heavy

00:46industries ministry Mr. Kamran Rizvi. Now Mr. Kumaraswamy also said that one Hyderabad based

00:52company are also showing interest and they have promised that they will deliver 500 tonne of

00:57rare earth material by the end of this year that is December 2025. Now we've had discussions with the

01:03mines minister and our secretary and our union minister are working on it and a decision might

01:08be taken within 15 to 20 days. Now the situation has arised because China's recent restrictions on

01:14exports of key metals caused a widespread disruption in manufacturing of automobile and semiconductor chips

01:21in a host of countries that also includes India. The secretary also said that actual production

01:26of rare earth magnets will take about two years and the government along with the industry is

01:30looking at alternative sources for the development of the rare earth magnets in the interim period which

01:35also includes Japan and Vietnam. Now Mr. Rizvi has also said in a statement that so you're aware that

01:41the rare earth magnet is available in Japan and Vietnam and efforts are going on to take it from

01:46there. Now what exactly are rare earth magnets used for? Now as I mentioned two important rare earth

01:52magnets at the start of the video. Now they are used for high performance automotive applications such

01:57as traction motors in electric vehicles. Now two wheelers and passenger vehicles both are included in

02:02this and also power steering motors that is in passenger vehicles in both electric vehicles and

02:08internal combustion engines. Now the rear earth magnet is a really important material for the automotive

02:14industry. The subsidy will also facilitate investment for establishing processing facilities for the

02:20companies to convert the rear earth oxide into magnets. Now India rare earth magnet limited

02:25PSU under the ministry of atomic energy is the sole source of rare earth material in India and they have

02:32enough rare earth to make 1500 tons of magnets which was officially said. Now Mr. Kamran Rizvi also said

02:38that it depends on the level of incentive. If it is less than 1000 crore ministry and finance minister can do it

02:45that means they can approve it. If it goes beyond 1000 crore the investment then it has to go to the

02:50cabinet for approval. Now some officials have also stated that 30 automotive firms have have come

02:55forward and taken authorization from the directorate of general and foreign trade to import rare earth

03:01magnets from China a fortnight ago so that the production is not impacted negatively due to the shortage of

03:08the rare earth magnet. So I hope you like this video and I hope you like this news for such interesting news please

03:14follow drive spark and I will see you in the next video.

India’s ₹1,000 Crore Push for Rare Earth Magnet Manufacturing | Game Changer for EVs & Defense Tech?

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