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.

Firms question drive for small end-to-end plants over large-scale specialization

Larsen & Toubro is planning to bid for Indias incentives to manufacture rare-earth magnets domestically, people familiar with the matter said. The move would mark a new business…