New Delhi [India], November 7 : India is stepping up efforts to strengthen its rare earth resources and build a complete domestic value chain to reduce dependency on imports, according to V. Chandrasekar, General Manager and Head of the Rare Earth Division at IREL India Ltd.
Speaking toon the sidelines of the CII conference on "Building Resilient Rare Earth Metal (REM) Supply Chains Through Technology Localization" on Friday, Chandrasekar said that several Indian states including Tamil Nadu, Kerala, Odisha, and Andhra Pradesh have "plenty of reserves of rare earths," and that the company is "seriously working on improving resource availability."
He said India's growing need for rare earth elements is directly linked to the rise of new technologies. "We have a big role because we are talking about magnets, electrical vehicles, and wind turbines. Everywhere rare earths are required," Chandrasekar noted, underscoring how critical these minerals are for the country's clean energy and manufacturing ambitions.
He added that the IREL's current priority is to build a self-reliant value chain rather than depend heavily on imports. "Importing is a huge difficulty now because of so many restrictions from China," he said. "This is where we have to develop the value chain. Not only produce the ores, but develop a complete value chain in this country. And we are definitely working on it."
He emphasized that collaboration among public sector undertakings (PSUs) could be a key step toward achieving this goal. "We have to have strategic tie-ups between the PSUs. Suppose I have the technology, somebody else has the funds, we get into strategic PSUs and then work like that. Depending on this, they give funds, I give the technology," he explained.
Chandrasekar also pointed out that he has been working in the rare earth sector for over five decades, and IREL continues to receive support from both the central and state governments. "We will definitely do whatever is best possible to see that we support the mission of the country. Definitely, we are getting the necessary support from the central government and State governments, yes, some more support is required," he said.
He further mentioned that India is also receiving technical and cooperative support from other countries, such as Vietnam and Kazakhstan. "We are getting some support from other countries like Vietnam and Kazakhstan," Chandrasekar noted.
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