India to Build Rare Earth Stockpile Amid China Export Curbs
India is set to launch a National Critical Mineral Stockpile (NCMS) to secure rare earth elements, crucial for green technologies, following China’s export restrictions.
The programme aims to create a two-month reserve and encourage participation from private players, officials said. Rare earth elements are vital for producing advanced technology applications, particularly rare earth magnets, which power electric vehicles, wind turbines, and other clean technologies.
- Rare earth elements are a group of 17 chemically similar elements.
- The initiative complements an earlier inter-ministerial approval of a Rs 7,300 crore incentive scheme to boost domestic rare earth magnet production, targeting 10,000 tonnes over the next five years.
India aims to secure rare earth elements amid China's export restrictions.
Author's summary: India launches National Critical Mineral Stockpile.
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