👥 HR & Workplace🇮🇳 India
Vedanta's Navin Agarwal Bets ₹1,250 Crore on Rare Earth Magnet Manufacturing
mint - companies·Friday, 26 June 2026
Navin Agarwal, executive vice-chairman of Vedanta, is personally investing ₹1,250 crore as an initial stake in a privately held rare earth magnet manufacturing firm. The company has brought in some of the world's top experts and is eyeing the government's Production Linked Incentive (PLI) scheme. Rare earth magnets are critical components in electric vehicles and electronics.
Why It Matters
Rare earth magnets are essential for EVs and modern electronics — India building this capability locally matters for its manufacturing ambitions and could affect future jobs in the sector.
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