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India is set to begin production of Rare Earth Permanent Magnets (REPMs) by the end of 2026, supported by a ₹7,280 crore Production-Linked Incentive (PLI) scheme, as stated by Union Minister G Kishan Reddy. This initiative is part of the Aatmanirbhar Bharat initiative to reduce the country's 95% dependence on imported critical minerals.

The government has identified Andhra Pradesh, Odisha, Maharashtra, and Gujarat for establishing Critical Mineral Processing Units. The National Critical Minerals Mission, with an outlay of ₹32,000 crore, will facilitate over 4,000 exploration projects and nine Centres of Excellence for R&D.