Mint Quick Edit | Rare earth magnet scarcity: Don’t just make in India, scrape those scrapyards as well

1 month ago 3

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Since rare earth inputs are scarce, it’s important to focus on recycling what we can extract from discarded gadgets and equipment.

Summary

India’s push for rare earth magnets made at home is aimed at industrial security, given China’s control of supply. But local manufacturing could take time. Let’s also adopt high-tech recycling and press diplomacy into action.

India’s cabinet on Wednesday green-lighted a ₹7,280 crore scheme to incentivize the manufacture of rare earth permanent magnets over seven years. The aim is to be able to produce 6,000 metric tonnes annually of these critical inputs that go into a wide range of products, from electric vehicles to electronics.

A recent clampdown on their supply by China amid a trade tussle with the US had caused disruptions globally. So New Delhi is understandably trying to cushion Indian industry against such adversity. The tenure of the scheme, however, offers a hint of how long self-sufficiency could take.

In the near-term, there may be no option but to rely on imports. Since rare earth inputs are scarce too, it’s important to focus on recycling what we can extract from discarded gadgets and equipment.

Technologies have emerged to enable this and we should explore such an approach. Businesses may find a splendid opportunity in making use of discards.

That said, since full self-reliance may prove difficult, we must do what it takes to prevent the weaponization of supply chains. This demands deft manoeuvres on the foreign-relations front to go with geopolitical neutrality.

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