" What’s so rare about rare earth magnets" This article discusses the significance of rare earth magnets, India's reliance on China for these materials, and the urgent need for India to develop its own value chain for self-reliant production within 3-5 years. ### Key Points - **Definition & Importance:** Rare earth magnets are powerful permanent magnets made primarily from rare earth elements like neodymium, praseodymium, and dysprosium. These magnets are crucial for modern industries because of their high magnetic strength, compact size, and resistance to demagnetization. They are essential in automotive, renewable energy, electronics, aerospace, and defense sectors. - **China’s Dominance:** China produces about 70% of the world’s rare earth magnets. It has previously imposed export restrictions, impacting global supply chains and industries dependent on these materials. - **Value Chain Components:** To become self-reli...
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