India, Feb. 1 -- The Centre has announced a series of measures with direct implications for India's automotive and electric mobility sectors as part of the Union Budget 2026, presented in the Lok Sabha by Finance Minister Nirmala Sitharaman.

A key announcement is the creation of four rare-earth mineral corridors across Odisha, Kerala, Andhra Pradesh and Tamil Nadu. The corridors are intended to support domestic processing and manufacturing of rare-earth materials, particularly magnets that are critical for electric motors used in electric vehicles, hybrids and several automotive components.

This move builds on a Rs.7,280-crore incentive package approved earlier to promote rare-earth magnet manufacturing in India. Under the scheme, the C...