India has embarked on a significant strategic initiative to secure its critical mineral supply chain by approving a ₹7,000 crore scheme aimed at promoting domestic manufacturing of sintered rare earth permanent magnets. This initiative is designed to reduce import dependence, enhance industrial self-reliance, and support high-growth sectors that are essential for the country's long-term economic and strategic objectives.
India is endowed with considerable reserves of rare earth minerals, which are found in both coastal and inland regions. These minerals are located in beach sands, red sands, and inland alluvium across various states, including Andhra Pradesh, Odisha, Tamil Nadu, Kerala, West Bengal, Jharkhand, Gujarat, and Maharashtra. Such deposits provide the necessary raw materials to foster an integrated domestic rare earth ecosystem.
The government’s "Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM)" aims to establish India’s first comprehensive domestic manufacturing ecosystem for high-value magnets. This scheme targets the creation of a capacity of 6,000 metric tonnes per annum, covering the entire value chain from rare earth oxides to finished permanent magnets. Rare earth oxides serve as the foundational input for downstream industries, including magnet production.
Permanent rare earth magnets play a crucial role in various sectors, including electric vehicles, wind turbines, electronics, aerospace systems, and defense platforms. Currently, India is heavily reliant on imports, particularly from China, for these critical materials. The new scheme is anticipated to bolster supply chain resilience, support the energy transition, and enhance domestic industrial capabilities while generating employment opportunities.
To complement domestic capacity building, the Ministry of Mines has entered into bilateral agreements with mineral-rich countries such as Australia, Argentina, and Zambia. This initiative aligns with the broader objectives of Atmanirbhar Bharat and the "Viksit Bharat 2047" roadmap, positioning rare earths as a strategic pillar in India’s journey towards energy security, industrial growth, and technological self-reliance.
Q1. What is the significance of rare earth minerals in India?
Answer: Rare earth minerals are crucial for developing clean energy technologies and advanced electronics. They drive innovation in critical sectors like electric vehicles and defense.
Q2. How does the ₹7,000 crore scheme benefit India's manufacturing sector?
Answer: The scheme aims to establish a domestic manufacturing ecosystem for rare earth magnets, reducing import reliance and enhancing industrial self-sufficiency.
Q3. Which states in India have rare earth mineral reserves?
Answer: Rare earth minerals are found in states such as Andhra Pradesh, Odisha, Tamil Nadu, Kerala, West Bengal, Jharkhand, Gujarat, and Maharashtra.
Q4. What role do sintered rare earth magnets play in technology?
Answer: Sintered rare earth magnets are essential components in electric vehicles, wind turbines, and aerospace systems, making them vital for technological advancement.
Q5. What is the long-term goal of India's mineral strategy?
Answer: The long-term goal is to achieve self-reliance in mineral supply, strengthen supply chain resilience, and support sustainable industrial growth.
Question 1: What is the primary aim of the ₹7,000 crore scheme approved by India?
A) To increase imports of rare earth minerals
B) To promote domestic manufacturing of rare earth magnets
C) To export rare earth minerals to other countries
D) To reduce electric vehicle production
Correct Answer: B
Question 2: Which country is India primarily dependent on for rare earth imports?
A) Australia
B) China
C) USA
D) Russia
Correct Answer: B
Question 3: What are sintered rare earth magnets primarily used for?
A) Home appliances
B) Electric vehicles and defense systems
C) Construction materials
D) Agricultural tools
Correct Answer: B
Question 4: Which states are known for having rare earth mineral reserves in India?
A) Delhi and Punjab
B) Andhra Pradesh and Odisha
C) Kerala and Tamil Nadu
D) All of the above
Correct Answer: D
Question 5: What is a key objective of India's mineral strategy?
A) To increase reliance on foreign minerals
B) To enhance self-reliance and reduce import dependence
C) To privatize mineral resources
D) To ban the mining of rare earth minerals
Correct Answer: B
Kutos : AI Assistant!
