<ul data-eligibleForWebStory="false"><li>Ministries of Heavy Industries and Mines in India are working on a scheme to boost domestic production of rare earth magnets and minerals, including for private sector and PSUs.</li><li>China, the world's primary exporter of rare earth magnets, imposed restrictions on shipments earlier this year, affecting global supply.</li><li>India, heavily reliant on Chinese imports for over 80% of its 540 tonnes of magnet imports, has felt the impact and aims to increase domestic production.</li><li>Rare earth minerals like samarium, gadolinium, and dysprosium are crucial for various technologies such as electric motors, smartphones, and missile systems.</li></ul>

Draft guidelines to incentivise domestic production of rare earth minerals on anvil

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