Rare Earth Corridors Proposed To Boost Mining: CII
- CII welcomes rare earth corridors in Tamil Nadu and Kerala
- Union Budget proposal on rare earth corridors and magnets
The Confederation of Indian Industry on Sunday welcomed the Union Budget proposal to establish dedicated Rare Earth Corridors in four states, saying the move would promote mining and strengthen India’s position in rare earth magnets. The industry body said the proposal would support growth across the rare earth value chain and help build long term leadership in critical minerals.
According to CII, the dedicated Rare Earth Corridors will be developed in Tamil Nadu, Kerala, Andhra Pradesh, and Odisha. The industry body said this step would encourage mining, processing, research, and manufacturing in the rare earth sector. Therefore, it described the proposal as a key policy push to improve domestic capacity in rare earth magnets and related areas.
In a statement issued on Sunday, CII said the budget proposal would help India build leadership in rare earth magnets and critical minerals. It added that focused corridors would support coordinated development across multiple stages of production. Meanwhile, the industry body noted that such infrastructure would also help align industrial growth with national priorities in strategic minerals.
The proposal was highlighted during the Union Budget presentation by Finance Minister Nirmala Sitharaman. While presenting her ninth consecutive budget, she referred to earlier efforts in this sector. She said a scheme for rare earth magnets was announced in 2020 and confirmed that a dedicated rare earth corridor would now be established in the four states.
During her speech, the Finance Minister said, “a scheme for rare earth magnets was announced in 2020 and a dedicated rare earth corridor would be established in the four States.” The statement underlined the government’s continued focus on strengthening the rare earth ecosystem through targeted policy measures.
CII said the Rare Earth Corridors would help link mining with processing and manufacturing in a structured manner. Also, it said the initiative would support research and development in critical minerals. Later, the industry body reiterated that the proposal aligns with India’s goal of achieving leadership in rare earth magnets through domestic capability and integrated development.
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