Budget 2026: Odisha, Kerala, Andhra, Tamil Nadu to have dedicated rare earth corridors
Finance Minister Nirmala Sitharaman has proposed to support mineral rich states such as Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to establish dedicated rare earth corridors.
A scheme for rare earth permanent magnets was launched in 2025 November.
The Government had approved the ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet’ with a financial outlay of Rs 7,280 crore. The scheme aims to establish 6,000 metric tonnes per annum (MTPA) of integrated REPM manufacturing capacity in India, covering the full chain from rare-earth oxides to finished magnets.
