In November 2025, India approved a 73bn-rupee ($800m; £600m) plan that could help it to cut its dependence on China in one of the most strategic corners of the global supply chain: rare earth magnets. These small but powerful components sit at the heart of modern life - used in everything from electric vehicles and wind turbines to smartphones, medical scanners, and defence equipment. Developing a full rare earths ecosystem is expensive, complex and time-consuming. By focusing on magnets