India to Start Producing Permanent Magnets by End of 2026
India is set to begin manufacturing permanent magnets by the end of this year. Union Minister of Coal and Mines, G Kishan Reddy, announced this on February 19. He stated that India is working to become a top destination for critical minerals to protect its economic and strategic future.
In November 2025, the government approved a ₹7,280 crore plan to boost the production of these specialized magnets. The goal is to produce 6,000 metric tons every year. This move will help India become more self-reliant and a major player in the global market.
New Processing Units in Four Key States
The Minister also shared that four states—Andhra Pradesh, Odisha, Maharashtra, and Gujarat—have been chosen to host new Critical Minerals Processing Units. These centers will focus on:
- Boosting domestic production
- Adding more value to minerals within India
- Reducing the need for expensive imports
Sustainable Mining and Future Goals
Additionally, 143 coal mines have been selected for “closure activities” to be finished by 2028. This project focuses on a sustainable transition and using resources more efficiently as older mines close.
“The government is working in ‘Reform Express’ mode,” Minister Reddy explained. He emphasized that the central and state governments are working together to speed up changes in the mineral sector.
Investment in Research and Development
To support growth, the government has identified nine Centers of Excellence. these centers will focus on:
- Better research and development
- New innovations
- Training workers in specialized skills
Work has also started under the National Critical Minerals Mission, which has a budget of ₹32,000 crore. So far, more than 4,000 exploration projects have begun across the country. The goal is to strengthen the entire supply chain, from finding minerals to processing them with advanced technology.
Strengthening the Global Supply Chain
Minister Reddy encouraged business leaders to invest in:
- Advanced technology
- Recycling and “urban mining”
- Buying mining assets in other countries
To support the industry, the government has removed import taxes on raw materials needed for critical minerals. It has also created a special fund and is supporting the National Mineral Exploration Trust. By building global partnerships and securing assets abroad, India aims to become a trusted leader in the global mineral industry.
Also Read : RSS Chief’s ‘Saffronize Army’ Video is a Deepfake, Confirms PIB Fact Check
