A recent report by Primus Partners, titled “From Extraction to Innovation: A Blueprint for Enhancing Rare Earth Magnet Ecosystem in India’s EV Roadmap,” outlines a five-pillar strategy to localise rare earth magnet production, strengthen India’s EV roadmap, and reduce dependence on Chinese imports.
Davinder Sandhu, Co-Founder and Chairperson, Primus Partners, shares his view on India’s critical minerals and rare earth magnet production. He highlighted that while India has the fifth-largest rare earth reserves and significant domestic demand, it contributes less than 1 per cent to global magnet production. He noted that the ₹34,300 crore outlay under the Critical Minerals Mission is a strong start, but cautioned that India cannot remain resource-rich and capacity-poor. Unlike China, which spent decades building its dominance, India must compress that journey through bold investments in technology, fast-tracked clearances, and strong industry–research partnerships to scale extraction, processing, and recycling.
Nikhil Dhaka, Vice President, Primus Partners, shares his view on de-risking EV manufacturing in India. He highlighted that as the sustainable mobility sector accelerates, India must urgently localise manufacturing, drive technology innovation, ensure faster approvals, and build strong private-sector partnerships. Without these measures, every vehicle manufactured in India will continue to face the same import dependence that constrains the sector today.
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