The rare earth moment: India's opportunity to shape the next age

India is the world's third-largest holder of rare earth reserves, with 6.9 million metric tonnes of rare earth oxides. Yet, it contributes less than one per cent of global production. The mismatch between domestic reserves and value-added output highlights the urgency of building full-spectrum capabilities.

- LAKSHMI PURI

Each leap forward in human civilisation has been defined by mastery over a material—bronze, iron, coal, oil. Rare earth elements, a subset of Critical Minerals, are now the foundations of another such epoch, and the coming decade in geo-economics will be defined by the Great Game—competition and even conflict over access, ownership, control and deployment of these resources. They are integral to the green energy transition, advanced defence and aerospace systems, semiconductors, and digital infrastructure, and to India meeting its Viksit Bharat goal. For us, therefore, this moment is more than a strategic opportunity; it is a civilisational inflection point that allows us to convert natural wealth through technology, investment, and entrepreneurship into long-term sovereignty, accompanied by autarky and global influence.

Seventeen Rare Earth Elements (REE), a subset of Critical Minerals, including neodymium and dysprosium to terbium, europium, and yttrium, are used in everything—from precision-guided missiles and satellite communication systems to EV motors, solar panels, smartphones, and semiconductors. Rare earth magnets, especially Neodymium-Iron-Boron (NdFeB) types, power everything, from wind turbines to fighter jets. Cerium and lanthanum are used in catalysts and ceramics, while europium and terbium are vital for display technologies and lasers. No modern nation can claim strategic autonomy without secure access to these critical inputs.