India is intensifying efforts to enhance the domestic production of rare earth permanent magnets and explore critical minerals like lithium, with a target of achieving a production capacity of 5,000 tonnes by 2030. The current demand for rare earth permanent magnets in the country stands at around 4,000 tonnes and is expected to double to nearly 8,000 tonnes by 2030, underscoring the urgency for expanding local capabilities. Dr. Jitendra Singh, Minister of State for Science & Technology and Earth Sciences, emphasized the necessity for rapid expansion of domestic capabilities during a session in the Lok Sabha.
A pilot project focusing on neodymium‑iron‑boron permanent magnets has been initiated, and an operational samarium‑cobalt magnet plant in Visakhapatnam currently has an initial production capacity of 500 tonnes per year. The Department of Atomic Energy disclosed that this capacity will be gradually increased to 2,000 tonnes in the subsequent phase and further elevated to 5,000 tonnes by 2030.
The government is actively engaged in survey activities for lithium reserves in Rajasthan’s Degana, with plans for upcoming exploration activities. Similar efforts are underway in the Reasi district of Jammu & Kashmir. Dr. Singh highlighted the critical importance of lithium and rare earth elements in various sectors such as electric vehicles, renewable energy, electronics, defense, aerospace, and space applications. These elements are crucial for supporting the transition to clean energy and the development of emerging technologies that rely on dependable energy systems.
