India, June 24 -- As panic over China's ban on exports of rare earth metals, including magnets, grips automobile manufacturers, heavy industries minister (MHI) HD Kumaraswamy has said that the government will decide on a subsidy scheme to support domestic production of rare earth magnets within the next 15-20 days.

Speaking at the sidelines of a press briefing on the launch of 'Scheme to Promote Manufacturing of Electric Passenger Cars in India' (SPMEPCI), Kumaraswamy said that the MHI held discussions with mines minister Kishan Reddy on the scheme, and plans to announce the decision in the near future.

The ministers met to discuss the rare earth metals situation on June 17 in the presence of senior officials from MHI, steel ministry, m...