India Mulls Incentivising Rare Earth Production

The ministries of heavy industries and mines are drafting a new scheme to offer incentives to both private companies and PSUs to produce rare earth materials within the country

Rare earth minerals are critical for the manufacturing of electric vehicles, smartphones, renewable energy systems, and defence equipment

This comes after China imposed export restrictions in April, requiring exporters to obtain licences and submit detailed information about the end-use of these…