India Plans Subsidy to Boost Rare Earth Magnet Production

The Indian government wants to help companies make important parts for electric cars, like rare earth magnets.

They plan to offer money, called a subsidy, to these companies.

This is because the world's supply of these magnets is tricky, especially with problems from China.

The goal is to build up the ability to make these parts here in India.

Companies like Tata Motors are watching the situation, looking for ways to get the parts they need.