L&T plans rare-earth magnet manufacturing in India to counter China's dominance

Manufacturing

11 August 2026 at 4:13 pm

L&T plans rare-earth magnet manufacturing in India to counter China's dominance

HyperFast News

Summary

Larsen & Toubro (L&T) is reportedly planning to bid for Indian incentives to manufacture rare-earth magnets domestically. This move aims to reduce India's dependence on China, which currently controls about 90% of global rare-earth magnet production.

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