Overview

• Sources at the Ministry of Heavy Industry say the Rs5,000 crore Production-Linked Incentive for rare earth magnet manufacturing is in final inter-ministerial review and could be announced in coming months.
• India Rare Earths Limited has opened formal discussions with Japanese and South Korean firms to secure processing technology and launch local magnet production this year.
• Commerce Secretary Sunil Barthwal confirms Chinese authorities have begun issuing visas and processing export clearances for Indian firms, though bulk import licences remain limited.
• Officials expect India and China to hold trade-package talks on rare earth magnets, fertilisers and pharmaceuticals during the SCO summit in Tianjin from August 31 to September 1.
• Industry observers caution that long-term supply security will require new processing plants, overseas mining deals and recycling alongside planned domestic incentives.