Prime Minister Narendra Modi emphasised the need to boost domestic manufacturing of rare earth permanent magnets as a key measure to reduce India’s import dependency. He highlighted that developing indigenous capabilities in this strategic sector will strengthen the country’s self-reliance and support high-tech industries.
PM Modi stated that rare earth permanent magnets are critical for applications in electric vehicles, renewable energy, and advanced electronics. By promoting local production, India can secure its supply chain, create employment opportunities, and enhance technological expertise.
The Prime Minister called for collaboration between government agencies, private industry, and research institutions to accelerate the establishment of manufacturing facilities, invest in research and development, and adopt advanced technologies in magnet production.
He underscored that reducing imports in strategic sectors like rare earth magnets aligns with the broader vision of Aatmanirbhar Bharat, positioning India as a global player in high-value, high-technology manufacturing.
