India to Build Domestic Capacity in Rare-Earth Magnets, Energy

India is expanding domestic capacity in import-dependent sectors, including rare-earth permanent magnets, Shaktikanta Das, principal secretary-2 to the prime minister, said at the Kautilya Economic Conclave. The government has approved the Samudra Manthan scheme to open deepwater oil exploration in former no-go zones. Das said structural reforms will continue alongside macroeconomic stability, stressing that self-reliance does not mean isolation.