Budget 2026: Not yet a gear shift

India’s rare earth policy is entering a decisive phase. With the Union Budget 2026–27 announcing Dedicated Rare Earth Corridors and the government already approving a manufacturing scheme for rare earth permanent magnets, New Delhi is signalling that critical minerals can no longer be treated as peripheral inputs. Rare earths now sit at the centre of India’s ambitions in clean energy, advanced manufacturing, and strategic autonomy. The challenge ahead is not geological availability but the ability to build an integrated ecosystem that moves from mining and processing to high-value manufacturing, while aligning domestic capacity with global supply chains.

Iran says the warship IRIS Dena, sunk by a US submarine off Sri Lanka, was unarmed and its targeting violated international law. At least 87 sailors were killed. Tehran says it is defending itself in the ongoing conflict.