India, like many countries, is facing China’s restrictions on rare earth exports — and it wants to develop its own domestic supplies. Experts say it could become an important alternative to China for partners such as the U.S., but will require much more public and private investment in the sector.
In recent weeks, the world has been grappling with a rare earths shortage in light of those curbs from China. Auto manufacturers across India, the U.S., Japan, South Korea, and Germany have been affected.
In response, Indian officials are evaluating how India Rare Earths, a government-owned company, can be leveraged to increase rare earth magnet production, sources told CNBC-TV18.
The report comes just days after India’s Union Minister of Commerce and Industry Piyush Goyal called China’s pause in exports of rare earth elements a “wake-up call” for the world and an opportunity for India to provide an alternative.
Geoffrey Pyatt, senior managing director of critical minerals at McLarty Associates and former U.S. assistant secretary of state for energy resources from 2022 to 2025, echoed the commerce minister’s statements.
