India to Establish Rare Earth Stockpile Amid China's Export Restrictions
India is launching a National Critical Mineral Stockpile (NCMS) to secure rare earth elements, crucial for green technologies, following China's export curbs.
Rare earth elements are vital for producing advanced technology applications, including rare earth magnets that power electric vehicles and wind turbines.
- The programme aims to create a two-month reserve.
- It encourages participation from private players.
- An incentive scheme of Rs 7,300 crore has been approved to boost domestic rare earth magnet production.
- The target is to produce 10,000 tonnes over the next five years.
India sets to secure rare earth elements amid China's export restrictions.
Author's summary: India launches stockpile for rare earth elements.
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