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Incentive scheme soon for rare earth production

The New Indian Express Bengaluru

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June 25, 2025

WITH the rare earth material supply crisis looming large, the government will roll out a scheme to subsidise domestic production of rare earth magnets in 15-20 days, heavy industries minister H D Kumaraswamy said on Tuesday.

- ENS ECONOMIC BUREAU@ New Delhi

The minister said consultation with stakeholders is underway to decide the amount of incentive programme. As per ministry officials, if the total incentive crosses ₹1,000 crore, the scheme will be sent to the Union cabinet for approval.

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