Why Did India Launch a ₹7,000 Crore Rare Earth Magnet Scheme? 🔍🌍| UPSC Current Affairs

Описание: Why did India suddenly roll out a ₹7,000 crore scheme for Rare Earth Magnets? Is this just another industrial policy—or a deeper strategic geography move tied to national security and global power equations?

Rare Earths may sound “rare” only in name, but their importance is massive. From Electric Vehicles and wind turbines to mobile phones, missiles, and fighter jets, the core components powering modern technology are Sintered Rare Earth Permanent Magnets. And this is where India’s concern begins.

China currently dominates the global rare earth magnet supply chain—right from mining and processing to final magnet manufacturing. India, despite having rich rare earth deposits across coastal regions like Kerala, Tamil Nadu, Odisha and inland regions such as Jharkhand, Gujarat, and Maharashtra, lacked a complete end-to-end manufacturing ecosystem. Raw materials existed, but value addition didn’t.

To bridge this strategic gap, the government launched the “Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets”, aiming to build 6,000 metric tonnes per year capacity, converting Rare Earth Oxides into finished high-value magnets within India.

This move reshapes multiple sectors at once. It strengthens India’s EV and renewable energy supply chains, accelerates the clean energy transition, and significantly reduces strategic vulnerability in defence manufacturing. Beyond domestic capacity, India is also thinking globally—signing mineral cooperation agreements with Australia, Argentina, Zambia, and other resource-rich nations.

For UPSC aspirants, this topic is gold. Rare Earths are no longer just a geology concept—they represent resource geography, geopolitics, diplomacy, and national power combined. In the 21st century, control over strategic minerals is as crucial as control over territory.

👉 UPSC takeaway:
Rare Earths are new-age strategic resources, where geology, location, supply chains, and international partnerships directly shape a country’s strategic autonomy.
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