New Delhi, March 25 -- : India has intensified efforts to scale up domestic production of rare earth permanent magnets and accelerate exploration of critical minerals such as lithium, with production capacity targeted to reach 5,000 tonnes by 2030, Jitendra Singh said in the Lok Sabha on Wednesday.
Replying to a series of questions during the Question Hour in the ongoing Budget Session, the Minister said that the country's current requirement of rare earth permanent magnets is about 4,000 tonnes, which is projected to rise to nearly 8,000 tonnes by 2030, highlighting the need for rapid expansion of domestic capabilities.
The Minister informed the Parliament that a pilot project on neodymium-iron-boron permanent magnets has recently been l...