An assessment of Rare Earth Permanent Magnet (REPM) demand in India was done by IREL (India) Limited, Defence Metallurgical Research Laboratory (DMRL) and Bhabha Atomic Research Centre (BARC).  The estimated segment – wise requirement for REPM for the year 2030 is as under:-

S. No.	Sector	Requirement in MTPA for the year 2030
1	Electric Vehicles (2/3/4 Wheelers)	3250
2	Industrial Motors for different applications	500
3	BLDC Fans	980
4	Smart Phones & Computers	600
5	Solar-powered Pumps	170
6	Elevators Motors and Escalator Motors	100
7	Other Applications (Consumer electronics, etc.)	820
8	Wind Turbine	1800
9	Total Consolidated Demand in India	8220

 

As on date, Geological Survey of India (GSI) has augmented cumulative Rare Earth Element (REE) ore resources totaling 767 million tonnes across the country, evaluated at different cut-off values and average grades since MMDR Amendment Act, 2015. While India possesses upstream capabilities in mining, separation and oxide refining, there is a notable gap in the industrial-scale midstream capabilities needed for oxide-to-metal, metal-to-alloy and alloy-to-magnet conversion. Due to this, India currently imports all its sintered NdFeB REPM demand for downstream applications. In order to bridge this gap, the Union Cabinet has approved the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM) with a financial outlay of Rs. 7,280 Crore on 26^th November, 2025. The said scheme was notified on 15^th December, 2025. 

This information was given by the Minister of State for Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.

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TPJ

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