Narayan Ramachandran quoted in The Straits Times on India’s Rare Earth Elements Sector

The rare earth elements sector in India remains a government monopoly – with the Department of Atomic Energy, which is in charge – until now, treating rare earths as a “stepchild”, said Mr Narayan Ramachandran, co-founder and senior fellow at Takshashila Institution. He told ST that India has the potential to diversify the global rare earths supply chain but that “the speed of strategic decision-making in India (relative to other global players) remains an issue”.

A 2020 Takshashila Institution report recommended that India open up the rare earth elements industry to private players and urged India to consider building a rare earths reserve along with partners such as the Quad – whose members are Australia, India, Japan and the US – as a geostrategic move. Referring to recent moves by international players in the rare earths sector that are “being played quite fast”, Mr Narayan added: “India will need to match that speed of change. Otherwise it will get left behind.”

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