Govt announces Rare Earth Corridors in 4 states as China curbs exports

In the Union Budget 2026, Finance Minister Nirmala Sitharaman proposed to set up 'Rare Earth Corridors' in Tamil Nadu, Odisha, Kerala and Andhra Pradesh. This would promote mining, processing, research and manufacturing of permanent magnets in mineral-rich states. In November 2025, the government announced Rare Earth Permanent Magnets (REPM) scheme after China curbed export of rare earth minerals.