India’s rare earth permanent magnet (REPM) sector has moved into focus because the Union Ministry of Heavy Industries has highlighted a large demand gap for downstream magnet manufacturing and the Union Cabinet has approved a new scheme to build domestic capacity. The issue matters because rare earth magnets are core inputs for electric vehicles, wind turbines, consumer electronics, and industrial motors, but India still depends on imports for sintered NdFeB magnets.
What happened
In a written reply in the Lok Sabha, the Minister of State for Heavy Industries, Shri Bhupathiraju Srinivasa Varma, said that IREL (India) Limited, the Defence Metallurgical Research Laboratory (DMRL), and the Bhabha Atomic Research Centre (BARC) assessed India’s Rare Earth Permanent Magnet demand for 2030.
The government said the sector-wise requirement covers electric vehicles, industrial motors, BLDC fans, smart phones and computers, solar-powered pumps, elevator motors, consumer electronics, and wind turbines. The reply also said India’s total consolidated demand for 2030 is estimated at 8,220 MTPA.
Background and earlier position
Related current affairs
- Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM)
- RFP published for sintered rare earth permanent magnet manufacturing under PLI-Auto
- Eye on supply chain, Cabinet approves Rs 1.27 lakh crore semiconductor push
- Semicon 2.0, new urea plants get Cabinet nod
- High Court Bench for Ladakh approved
- Cabinet decision enabling bench of High Court of Jammu and Kashmir in Ladakh: Amit Shah