India Plans Subsidies to Boost Domestic Neodymium Magnet Production, Reduce China Dependence.
NEW DELHI – July 12, 2025 – India is devising strategies to overcome the current dependence on China for rare earth element magnets, specifically Neodymium, by announcing plans to develop indigenous production capabilities. The Indian government is preparing a scheme to offer subsidies worth ₹1,345 crore (approximately $160 million USD) to domestic manufacturers of Neodymium…

