📊Executive Summary

India has announced a ₹7,280-crore scheme aimed at manufacturing rare earth magnets, which is crucial for the electric vehicle (EV) sector. This initiative addresses significant supply-chain risks associated with sourcing rare earth materials, essential for EV production. However, the article notes that inconsistencies within the broader EV ecosystem still pose challenges. Procurement teams should monitor this development closely as it could impact the availability and pricing of key components in the EV supply chain....