Rare Earth Elements: Enabler for India to become a global manufacturing hub

  • September 9, 2021
  • user

Rare earth elements represent a group of seventeen elements that are found in varying combinations in earth’s crust. REEs are divided into Light Rare Earth Elements (LREE) and Heavy Rare Earth Elements (HREE) based on their atomic weight and electronic configuration

The demand for rare earth elements (REE) is going to witness a rising trend as India moves towards 2047, enabled by rising demand from traditional sectors such as steel, alloys, electrical applications, as well as from emerging applications such as e-mobility, renewable energy, nuclear & defence

China has a dominant control in the REE value chain – China is the largest REE producer with ~70% market share with ~34% reported REE resources

India ranks 6th in terms of global production with market share of ~1% (~2.5 kT)

Rare earth elements are very critical for the development of futuristic technologies in India – Out of 25 sectors identified, the top priority sectors are electric vehicles, hi-tech electronics, renewable and nuclear energy, defence and hydrogen powered mobility

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