 "Nitin Gadkari, Nitin, Gadkari")
Union minister Nitin Gadkari assured that Indian startups, research institutions, and engineering colleges are working hard to find solutions for several problems, including finding alternatives to rare earth magnets.
Speaking to Business Standard, Gadkari talked about the government’s multi-pronged push for self-reliance and assured that the problem of restrictions on rare earth magnets will be solved soon.
The minister's remarks come amid China's export restrictions on seven heavy and medium rare earth elements and magnets. These elements include samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, which are crucial for sectors like defence, energy, and auto, especially electric vehicles (EVs).
India looks beyond China for rare earths
HD Kumaraswamy, the minister for heavy industries, on Tuesday said the government is now in talks with Japan and Vietnam for rare earths. The Centre also aims to announce an incentive scheme for processing rare earth oxides into magnets, which could take up to two years. Kumaraswamy further said a decision regarding this is expected in 15-20 days.
Business Standard previously reported that to mitigate the impact of export restrictions from China, the Centre was also planning to develop 3,000 to 5,000 incentive schemes and looking at alternative countries. The restrictions from China have brought difficulties to automakers and high-tech manufacturers, both globally and in India.
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India concerned over essential bitumen supplies?
Asked whether the Centre is concerned over bitumen supplies being impacted because of the Israel-Iran conflict, Gadkari said that trials are currently underway where a one-kilometre road was built using bio-bitumen, where the lignin is procured using stubble.
The minister said that Indian Oil has commenced a project in Haryana's Panipat district, under which, stubble is being used to generate bio-bitumen, ethanol, and sustainable aviation fuel.
Calling for India to become 'Atmanirbhar', Gadkari said that India must become self-reliant in everything, adding that the imports should come down, while exports should go up.
