Larsen & Toubro aims to enter rare-earth magnet production in India, leveraging government incentives to reduce reliance on China, which dominates 90% of global output.
China accounts for nearly 90% of the global production of rare-earth magnets
Aug 11, 2026
03:27 pm
What's the storyLarsen & Toubro (L&T) is planning to enter the rare-earth magnet manufacturing sector in India.
The move comes as part of a government push to cut down on imports and reduce China's monopoly over this critical industrial component.
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