Bhubaneswar, Feb. 1 -- Union Finance Minister Nirmala Sitharaman on Saturday announced the establishment of dedicated rare-earth corridors in mineral-rich states, including Odisha, as part of the Union Budget 2026-27, with the aim of strengthening domestic supply chains and reducing dependence on imports.

Presenting the Budget in Parliament, Sitharaman recalled that a scheme for rare-earth permanent magnets was launched in 2025. She said the Centre will now extend support to Odisha, Kerala, Andhra Pradesh and Tamil Nadu to develop specialised rare-earth corridors. "This initiative will promote mining, processing, research and manufacturing," the Finance Minister said.

To boost domestic chemical production and cut import reliance, Sithar...