business

L&T Plans Bid to Manufacture Rare-Earth Magnets in India

11 Ağustos 2026Bloomberg

Larsen & Toubro Ltd. is set to enter the rare-earth magnet manufacturing sector in India, according to sources.
This initiative aligns with the Indian government's efforts to decrease dependency on imports and mitigate China's dominance in this vital industrial area. The move is expected to bolster local production capabilities and enhance India's strategic autonomy in technology.
Rare-earth magnets are essential components in various high-tech applications, including electric vehicles and renewable energy systems. China's current dominance in the rare-earth market poses a significant risk to countries reliant on these materials.
L&T's foray into rare-earth magnet production reflects a broader trend among Indian companies to capitalize on government initiatives aimed at boosting self-reliance. By investing in this critical sector, L&T not only positions itself as a key player in the domestic market but also potentially reshapes the supply ch…

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This article is based on information from sources familiar with the matter and may be subject to change.

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