Will the Honourable Prime Minister implement “Make in India” Scheme in Rare Earth Industry?

China Export Rare Earth Minerals worth about 1500 Crores during 2014. US and Japan imports 35% and 45% of its rare earth requirements from China. Europe, Korea, Vietnam, Russia, Taiwan, Thailand and Canada also importing rare earths from China.

India has 35% of World reserve. But our production is less than 0.001%, as, only Government company alone permitted to produce Rare Earth.

It should be open to the Private Entrepreneurs , so that India will earn huge foreign exchange by way of export, in addition to Generation of lot of new employment.

It is time to implement the Honourable Prime Minister’s “Make in India” scheme in this rare earth industry. Will the Honourable Prime Minister implement the same.?

Ref : http://investorintel.com/technology-metals-intel/chinese-rare-earths-exports-dramatically-decrease-while-global-demand-for-rare-earth-products-increase/