India's ₹7,280 Cr Rare Earth Magnet Push: Experts Divided on Speed, Scale

• India launches ₹7,280 crore scheme to boost domestic production of rare earth permanent magnets.
• The initiative aims to reduce import dependence for EVs and high-technology applications.
• Experts hold mixed views on the speed, scale, and cost-competitiveness of India's efforts.
• Challenges include higher domestic production costs ($102/kg vs China's $78/kg), reliance on imported heavy rare earths, and limited technology access.
• The scheme offers sales-linked incentives and capital subsidies, targeting 6,000 MTPA capacity by 2030.

Why It Matters: India's ₹7,280 Cr rare earth magnet scheme aims for self-reliance but faces cost and tech hurdles.