New Delhi, Feb. 20 -- Union Mines Minister G. Kishan Reddy has announced that production of permanent magnets will begin in the country by the end of this year with a production-linked incentive (PLI) scheme of Rs 7,280 crore.

As many as four states - Andhra Pradesh, Odisha, Maharashtra and Gujarat, have been identified for establishing critical minerals processing units to boost domestic value addition and reduce import dependence.

Speaking at an event organised by industry chamber FICCI, the Minister called for a decisive shift from resource dependency to value creation in critical minerals, stating that India aims to position itself as a key player in the global critical minerals landscape.

Addressing the second edition of 'Indian C...