India's Leap into High-Tech: Rare Earth Magnet Manufacturing Boost

Prime Minister Narendra Modi announced initiatives to bolster India's manufacturing and infrastructure sectors. The Union Cabinet approved creating an integrated ecosystem for making Sintered Rare Earth Permanent Magnets. Additionally, major transportation projects in Maharashtra and Gujarat, including Pune Metro expansion, were greenlit, enhancing connectivity and operational efficiency.

Prime Minister Narendra Modi announced transformative measures to enhance India's manufacturing and infrastructure capabilities. On Wednesday, he revealed the Union Cabinet's approval for establishing an ecosystem to produce Sintered Rare Earth Permanent Magnets, reducing import dependency in high-tech sectors like electric vehicles and aerospace.

Modi emphasized the initiative's focus on building domestic capacities and promoting green technologies. Beyond manufacturing, cabinet decisions on two multi-tracking railway projects across Maharashtra and Gujarat aim to significantly upgrade rail infrastructure, ensuring improved mobility and logistics efficiency.

The prime minister also highlighted the expansion of Pune Metro's Phase-2, covering Lines 4 and 4A. This expansion is set to boost Pune's public transport network, promising faster commutes and positioning the city as a hub for growth and innovation.

(With inputs from agencies.)