(MENAFN- Live Mint) Multiple industry stakeholders believe that India should collaborate with friendly countries in order to achieve success in the critical minerals space, according to an ANI report.

At the Confederation of Indian Industry's (CII)Conference on 'Building Resilient Rare Earth Metal (REM) Supply Chains Through Technology Localisation' in Chennai on November 7, experts felt that India should“open the floor” in the development of the rare-earth materials, it said.

Also Read | Double honour for Richa Ghosh! India star joins WBP as DSP, awarded Bangabhushan 'Very big mountain to climb... come and join hands': What experts say

“We cannot have any yardstick by which to partner or not to partner. Our idea is to open the floor, actually. Whichever country they want to come and join hands with us, we are ready to take it forward,” R Saravanabhavan, Deputy Adviser (Minerals), NITI Aayog said at the event in Chennai.

Air Marshal M Matheswaran (Retd), former Deputy Chief of the Indian Integrated Defence Staff, stated that the country needs to develop capabilities“much more than what we have right now”.

Emphasising the need to work with the friendly countries, Matheswaran said,“Right now, we've just realised that we need to create capabilities much more than what we have right now, right? There is, however, a very big mountain to climb. Let's focus on that first, rather than becoming a leader in rare earths later. We can see that later.”

“In terms of partnership, yes, we have to work with friends. Japan, Australia, Singapore, Korea, US, UK. These are all countries with which we have industry and trade relations. But nobody gives you tech,” Matheswaran added.

Also Read | Amazon AWS CEO advises his children to develop soft skills for success in AI age Can Tamil Nadu take the lead?

Wing Commander P Madhusoodhanan, Vice President - Aerospace and Defence at Tamil Nadu Industrial Development Corporation Limited (TIDCO) said that the organisation is“working towards ensuring the requirement of the aerospace and defence industries”.

“One of the things is that rare earths are available in plenty in Tamil Nadu. Monazite is available in the southern parts of the state, and if you look at the maximum amount of availability of rare earth elements, they are in Tamil Nadu and Kerala. It's a question of processing them. There is a limited amount of processing which is happening. It's not actually matching the resources,” he said.

He added that while mining is already taking place,“refining does not exist as of now. Once refining and recycling are in place, this becomes an end-to-end ecosystem in the state”.

Also Read | US govt cancels Grad plus loans, announces changes to student debt programme What are rare earth minerals, why are they important?

Rare earth materials are a group of 17 chemical elements - 15 lanthanides, plus scandium and yttrium - that are not actually rare, but are difficult to extract and purify from the Earth's crust.

They are crucial for modern technology due to their unique properties, such as high magnetic strength, luminescence, and catalytic capabilities, and are found in a wide range of applications, including smartphones, electric vehicles, medical equipment, and lasers.

(With inputs from ANI)

MENAFN08112025007365015876ID1110314600