India counters China's rare earth restrictions

Business Jun 28, 2025

India is rolling out a big seven-year national initiative to ramp up its own rare earth production—think materials needed for everything from electric cars to high-tech goods.
Right now, India has huge reserves but still depends a lot on imports, especially with China tightening exports and controlling most of the global supply.

India imported over 53,000 metric tons of these magnets

The government wants to make it easier for companies to set up rare earth processing and magnet-making plants here at home.
Last year alone, India had to import over 53,000 metric tons of these magnets.
By building up local capacity, India hopes its tech and auto industries won't be left hanging if global supplies get shaky again.