India Takes $788 Million Step to Challenge China’s Rare Earth Dominance
India is ramping up its bid to break China’s near-total control over the global rare earths market with a new $788 million plan to boost domestic magnet manufacturing. The initiative, which awaits cabinet approval, aims to secure critical mineral supplies vital for electric vehicles, renewable energy, and defense production.
According to report, the proposed expansion marks a sharp jump from the earlier $290 million incentive scheme. The move comes in response to China’s tightening of rare earth export rules in April a decision that sent shockwaves through global industries and exposed the dangers of relying on a country that processes about 90 percent of the world’s rare earth output.
Prime Minister Narendra Modi has repeatedly cautioned against “weaponizing critical minerals,” call...









