New Delhi, Feb 1: India is initiating the establishment of specialized rare earth corridors in states including Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to enhance domestic capabilities in critical minerals.
This move, announced by Finance Minister Nirmala Sitharaman, builds on a prior scheme launched to boost the manufacturing of rare earth permanent magnets, with an investment of Rs 7,280 crore and a target of 6,000 metric tons per annum capacity. By reducing reliance on Chinese supplies, which poses strategic risks, India aims to secure vital supply chains for electronics, renewable energy, and defense technologies.
The corridors will encompass the entire value chain from mining to advanced manufacturing, and are aligned with the National Critical Minerals Mission, reflecting a commitment to self-reliance and economic value from local resources.
