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July 22,2026

India Launches ₹7,280 Crore Scheme to Boost Rare Earth Magnet Manufacturing Capacity

India’s rare earth permanent magnet (REPM) demand is projected to reach 8,220 MTPA by 2030, driven by electric vehicles, wind turbines, electronics, solar pumps, and industrial applications. IREL, DMRL, and BARC assessed sector-wise requirements, with EVs and wind energy emerging as major consumers.

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