Newsletter
In Budget 2026-27, the Finance Minister signalled a bigger rare earth push, with government support for dedicated ‘rare earth corridors’ in mineral rich states like Odisha, Kerala, Andhra Pradesh, and Tamil Nadu.
The why: the timing is not random. With China tightening control over rare earth supplies, India wants to stop depending on imports for materials that power EVs, wind turbines, electronics, and defence tech.
A rare earth permanent magnet scheme was launched in November 2025, and this corridor plan is the next step towards building the whole chain at home, from mining and processing to manufacturing and recycling.
Bottomline: demand is only going one way, up. India imported over 53,000 metric tonnes of rare earth magnets in FY25, and consumption is expected to double by 2030, especially with the EV and renewable energy push.
