India eyes rare earth magnet self-reliance; incentive scheme likely...

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India eyes rare earth magnet self-reliance; incentive scheme likely soon to counter China

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India aims to tackle the rare earth magnet supply issues. The nation plans to boost domestic production and cut dependence on China. Incentives are in the works for magnet processing units. Midwest will produce 500 tonnes this year, scaling up to 5,000 tonnes next year. Government is exploring sourcing from Japan and Vietnam.

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