Takshashila Discussion Document - A Rare Earths Strategy for India

Post-pandemic geopolitical and economic trends offer a precious opportunity for India to emerge as a rare earths supplier for the world. This discussion document lays out a prioritisation framework and a strategy for India to do that. We recommend that the Government of India should:

• Create a new Department for Rare Earths (DRE), which would play the role of a regulator and enabler for businesses in this space.

• Allow private sector companies to participate in upstream and downstream processing of rare earth elements.

• Offer Viability Gap Funding to businesses in upstream processing to help them set up operations.

• Provide enabling infrastructure close to ports, implement Ease of Doing Business Measures, and create a whitelist of international suppliers for businesses in downstream processing.

• Build a rare earths reserve along with partners such as the Quad as a geostrategic move to ensure India can compete in the manufacturing of high-tech products in the coming decades.

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