Prime Minister Narendra Modi has emphasized India’s focus on self-reliance in the production of rare earth magnets, underscoring their critical role in advanced technologies and strategic industries. Addressing a gathering, the Prime Minister highlighted that domestic manufacturing of rare earth magnets will reduce dependence on imports and strengthen India’s position in global supply chains.
Modi stated that rare earth magnets are essential components in sectors such as renewable energy, electric mobility, electronics, and defence. He noted that India’s growing capabilities in this field reflect the government’s commitment to building indigenous capacity under the ‘Atmanirbhar Bharat’ initiative.
The Prime Minister stressed that the development of rare earth magnet production facilities will not only enhance technological self-sufficiency but also create new opportunities for innovation, investment, and employment. He added that India’s skilled workforce and expanding industrial base provide a strong foundation for achieving this goal.
Officials confirmed that the government is working closely with industry and research institutions to establish a robust ecosystem for rare earth processing and magnet manufacturing. The initiative is expected to contribute significantly to India’s long-term economic resilience and strategic autonomy.
Modi concluded by reiterating that self-reliance in critical technologies is central to India’s vision of becoming a global leader in innovation and sustainable development.
