The Union Cabinet of India has recently approved a pioneering scheme aimed at enhancing the domestic manufacturing of sintered Rare Earth Permanent Magnets (REPMs). These magnets are vital components in various high-tech industries.
Rare earth permanent magnets are created from alloys that include rare earth elements, known for their exceptional magnetic properties. They are integral to numerous applications, including:
These magnets are distinguished by their high magnetic strength, coercivity, and energy product, making them indispensable in modern technology.
Currently, China dominates the global rare earth market, producing approximately 68.6% of the world's supply. Recent export restrictions from China have led to supply chain disruptions for India and other nations reliant on imports. With the demand for REPMs expected to double by 2030, primarily due to the rise of electric vehicles and renewable energy, India's dependence on foreign sources poses a strategic risk.
This initiative marks India’s first significant step toward establishing domestic manufacturing capabilities for REPMs. Key features of the scheme include:
The objectives of this initiative are multifaceted, aiming to:
Despite holding approximately 6.27% of the world’s rare earth reserves, India only contributes about 0.83% to global production. This disparity highlights the need for a robust strategy to bridge the gap between resource availability and output.
To address these challenges, the government has introduced the National Critical Mineral Mission. This initiative includes plans for the Geological Survey of India to conduct around 1,200 exploration projects between FY 2025 and FY 2031, thereby expanding domestic resource assessment and production capabilities.
Q1. What are Rare Earth Permanent Magnets used for?
Answer: Rare Earth Permanent Magnets are utilized in various applications, including electric vehicles, renewable energy systems, electronics, aerospace, and defense due to their high magnetic strength.
Q2. Why is India's initiative for REPM manufacturing important?
Answer: The initiative aims to reduce India’s dependence on imports for Rare Earth Permanent Magnets, enhance domestic production, and support the country's strategic goals, including the Net Zero emissions target.
Q3. How much REPM manufacturing capacity is India targeting?
Answer: India is targeting an integrated manufacturing capacity of 6,000 metric tonnes per annum (MTPA) for Rare Earth Permanent Magnets under this new initiative.
Q4. What is the timeline for implementing the REPM manufacturing scheme?
Answer: The scheme will be implemented over a seven-year period, which includes a two-year phase for setting up manufacturing facilities.
Q5. How does the National Critical Mineral Mission support this initiative?
Answer: The National Critical Mineral Mission aims to enhance India's resource assessment and production capabilities for rare earth elements, complementing the new manufacturing initiative.
Question 1: What is the primary objective of India's new REPM manufacturing scheme?
A) To increase import dependence
B) To enhance domestic manufacturing
C) To reduce employment in the sector
D) To limit renewable energy usage
Correct Answer: B
Question 2: Which country currently dominates the global rare earth sector?
A) India
B) United States
C) China
D) Australia
Correct Answer: C
Question 3: What percentage of global rare earth production does India contribute?
A) 6.27%
B) 68.6%
C) 0.83%
D) 50%
Correct Answer: C
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