India's Self-Reliance on Rare Earth Magnets

New Delhi, Jun 17 (PTI) Union Minister H D Kumaraswamy on Tuesday said inter-ministerial efforts will pave the way for India to become self reliant in the rare earth magnets, crucial for electric vehicles, electronics, defence and other sectors.

The minister for heavy industries and steel said this after chairing an inter-ministerial meeting on the issue of rare earth magnets along with coal and mines minister G Kishan Reddy.

"Chaired a meeting with Union Minister Shri @kishanreddybjp...to address the issues of rare earth magnets. Senior officials from ministry of Heavy industries, ministry of steel, ministry of mines, ministry of commerce and industry and department of atomic energy were present.

"This inter-ministerial effort will pave the way for India's self-reliance in strategic materials crucial for EVs, electronics, defence and other sectors," Kumaraswamy said in a post on X.

China's recent restrictions on the exports of the key metals caused widespread disruption in the manufacturing of automobiles and semiconductor chips in a host of countries, including India.

According to industry sources, a delegation comprising 40-50 automotive industry executives, which was gearing up to visit China for expediting the import of rare earth magnets to Indian entities, is still awaiting a confirmation from the Chinese authorities for a meeting.

Rare earth magnets include neodymium-iron-boron (NdFeB). It is used for high-performance automotive applications such as traction motors in electric vehicles (two-wheelers and passenger vehicles) and power steering motors (in passenger vehicles) in both electric vehicles and internal combustion engine vehicles.