Reliance, Vedanta among about 10 firms eyeing Andhra Pradesh rare-earths
Big names like Reliance, Vedanta, and Adani are among about 10 companies expressing interest in setting up rare-earth facilities in Andhra Pradesh.
This is all about India cutting its dependence on China for minerals that power electric cars and tech gadgets.
With 211 million metric tons of beach sand minerals across 16 deposits, Andhra Pradesh is a major player in India's rare earth reserves.
Andhra Pradesh tenders, incentives await approval
Andhra Pradesh is gearing up to launch tenders once its new rare-earth corridor policy gets cabinet approval, expected soon.
The state plans to offer capital-linked incentives and additional benefits for projects with investments of ₹10 billion or more.
identified in February's federal budget as one of four states for rare-earth corridor development, Andhra Pradesh's push fits into a bigger national plan: New Delhi set aside ₹73 billion to ramp up homegrown magnet manufacturing for critical tech industries.