Rare earth corridors to boost country's self-reliance in magnets, says industry
Published on: Feb. 1, 2026, 7:23 p.m. | Source: The Economic Times
India is set to boost its rare earth magnet production with dedicated corridors in mineral-rich states, fostering new technologies for phones, EVs, and defence. Budget proposals include customs duty exemptions on capital goods for critical mineral processing, aiming to reduce import dependence and enhance self-reliance in vital sectors. This initiative supports the nation's commitment to Net Zero by 2070.
