India Pours Over $10 Billion Into Rare Earths to Cut China Dependence

OilPrice · Alex Kimani · last updated February 2, 2026 – 3:42 PM

India’s Finance Ministry has unveiled a budget proposal for the current financial year that will boost domestic rare earths mining and the clean energy sector as part of a broader effort to break global supply chain monopolies—particularly China’s dominance—and achieve strategic self-reliance in critical minerals. In the Union Budget 2026-27 presented over the weekend, Finance Minister Nirmala Sitharaman unveiled a strategic initiative to establish dedicated rare earth corridors across four mineral-rich coastal states of Odisha, Kerala,…

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