India has approved a 73-billion-rupee ($800m; £600m) plan to produce rare earth magnets, aiming to reduce its dependence on China, which currently controls over 90% of global rare earth processing. The initiative seeks to achieve self-reliance by focusing on magnet production, a crucial component in electric vehicles, wind turbines, and smartphones.

• India plans to produce 6,000 tonnes of permanent magnets annually within seven years.
• China's tightened export controls last year highlighted India's vulnerability, as it imports 80-90% of its magnets and related materials from China.
• Experts emphasize the need for technological mastery, secure materials, and scalability, with consulting firm Benchmark Mineral Intelligence's Neha Mukherjee stressing the importance of strategic partnerships to build capabilities.
• India possesses the world’s third-largest rare earth reserves (about 8% of the global total) but mines less than 1%, largely exporting its raw materials.
• Concerns remain about India's lack of industrial expertise, difficulty in sourcing specific heavy rare earth elements, and challenges in competitively pricing domestically produced magnets against cheaper imports from China.