Budget 2026 backs rare earth corridors to build India’s magnet manufacturing muscle
Budget 2026 establishes dedicated rare earth corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to boost domestic magnet production, complementing a nearly Rs 7,300 crore incentive plan. This initiative aims to enhance self-sufficiency in critical rare earth magnets, vital for industries like automotive and renewable energy, reducing import dependency.
Budget 2026 establishes dedicated rare earth corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to boost domestic magnet production, complementing a nearly Rs 7,300 crore incentive plan. This initiative aims to enhance self-sufficiency in critical rare earth magnets, vital for industries like automotive and renewable energy, reducing import dependency.
