Govt clears massive Rs7,280Cr incentive push to boost India’s rare earths industry
The Union Cabinet has approved a new incentive scheme for rare earth permanent magnets in its meeting on Wednesday. An allocation of approximately Rs 7,280 crore is proposed for this scheme, nearly three times the earlier estimated package of Rs 2,500 crore. This move comes at a time when China has tightened export controls. China controls 60-70% of global rare earth raw materials and 90% of processing.
English
