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India has unveiled an approximately $800 million plan to develop its own rare earth magnet industry in an effort to reduce its heavy reliance on Chinese imports, which dominate the global supply of these critical components. China controls nearly 90 % of rare earth processing and magnet production worldwide, and recent export restrictions on certain materials and magnets have highlighted the strategic risks for countries dependent on Chinese supply chains. India’s initiative aims to build a domestic value chain for rare earth magnets essential for electric vehicles, consumer electronics, renewable energy technologies and defence systems but experts question whether the country can scale manufacturing and secure raw materials quickly enough to meaningfully challenge China’s dominance. #rareearthmagnets #indiamanufacturing #evindustry #cleanenergy #geopolitics #makeinindia #rareearths #supplychain #electricvehicles #defencetechnology #globaltrade #chinavsindia #strategicresources Khabargaon is a modern-day digital platform that helps you travel through current affairs, explainers, ground reports, interviews and unique video shows. Stay tuned for more and more! Khabargaon holds the copyright to this video. Use by others is not allowed without written consent. For permission, email digital@khabargaon.com Website: https://khabargaon.com/ Subscribe to our channel and turn on notifications to get the latest: / @khabargaon Connect us on Facebook: / khabargaon Instagram: / khabargaon Twitter: https://x.com/khabar_gaon WhatsApp: https://whatsapp.com/channel/0029Vatc...