Production-linked and capital subsidies.
Beneficiaries: Around five domestic firms.
Global Context: China processes ~90% of global rare earth output.
Research Priority: Development of rare-earth-free motor technologies.
Significance
The expanded rare earth magnet incentive scheme represents a strategic industrial policy to secure India’s position in critical material supply chains , reduce import dependency , and promote sustainable technological innovation aligned with India’s Atmanirbhar Bharat (self-reliance) vision.
Month: Current Affairs - November 03, 2025
Category: Economy / Industry