How realistic are India's its ambitions?
BBC • • general
Key Points:
- In November 2025, India approved a 73 billion-rupee ($800 million) plan to develop domestic production of rare earth magnets, aiming to reduce its heavy dependence on China, which currently supplies 80-90% of India's magnets and related materials.
- The plan focuses on producing 6,000 tonnes of permanent magnets annually within seven years to meet rising domestic demand, which is expected to double in five years, particularly for electric vehicles, wind turbines, and defense equipment.
- India faces significant challenges including lack of industrial expertise, limited commercial-scale experience, and insufficient availability of critical heavy rare earth elements like dysprosium and terbium, which are essential for high-performance magnets.
- While India holds the world's third
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