💰 L&T Plans to Manufacture Rare-earth Magnets in India
Published by OOPSONLINE.IN · Source: The Economic Times · 1 min read · · Updated
What actually happened
Larsen & Toubro is planning to bid for Indias incentives to manufacture rare-earth magnets domestically, people familiar with the matter said. The move would mark a new business for the engineering giant as India seeks to reduce dependence on China, which controls about 90% of global rare-earth magnet production.
Key points
- Larsen & Toubro is planning to bid for Indias incentives to manufacture rare-earth magnets domestically, people familiar with the matter said.
- The move would mark a new business for the engineering giant as India seeks to reduce dependence on China, which controls about 90% of global rare-earth magnet production.
Summary based on data provided by The Economic Times. Full article available at the original publisher.
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- #plans
- #manufacture