Countering China curbs: India plans rare earths stockpile; two months of stores planned

India is looking to launch its programme for building a rare earth stockpile that will ease supply chain issues for the industry. This action comes in response to China's restrictions on rare earth magnet exports, an essential component for electric vehicles, wind turbines and other environmental technologies, which has affected global supply networks. The government is preparing to introduce the National Critical Mineral Stockpile (NCMS), a specialised initiative to secure the availability of rare earth elements across the nation, as per officials. "We are looking to create a two-month stockpile of rare earth elements under the programme, with a focus on private player participation," a senior government official told ET on condition of anonymity. "The initial focus is on rare earth e