New Delhi, Feb. 1 -- Finance Minister Nirmala Sitharaman has proposed to support mineral rich states such as Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to establish dedicated rare earth corridors.

A scheme for rare earth permanent magnets was launched in 2025 November.

The Government had approved the 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet' with a financial outlay of Rs 7,280 crore. The scheme aims to establish 6,000 metric tonnes per annum (MTPA) of integrated REPM manufacturing capacity in India, covering the full chain from rare-earth oxides to finished magnets.

"We now propose to support the mineral-rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish dedicated rare earth co...