A recent report by Primus Partners, titled “From Extraction to Innovation: A Blueprint for Enhancing Rare Earth Magnet Ecosystem in India’s EV Roadmap,” outlines a five-pillar strategy to localise rare earth magnet production, strengthen India’s EV roadmap, and reduce dependence on Chinese imports.
Davinder Sandhu, Co-Founder and Chairperson, Primus Partners, shares his view on India’s rare earth magnet opportunity. He highlights that India must not remain “resource-rich but capacity-poor” and should fast-track what took China decades, by driving bold investments, forging global technology partnerships, and accelerating clearances for projects.

Nikhil Dhaka, Vice President, Primus Partners, shares his view on the role of magnets in EV manufacturing. He highlighted that magnets are integral to EVs, with over 25 components in each vehicle depending on them, and the two-wheeler segment alone expected to require up to 44,000 tonnes by 2047.