Current Affairs · Industry and Resources
Consider the following statements regarding Neodymium production in India: Statement I: India, through Indian Rare Earths Limited (IREL), plans to increase neodymium production ninefold to 500 tonnes by FY27 to reduce dependence on rare-earth imports. Statement II: Neodymium, a rare-earth metal primarily used in high-strength magnets for electric vehicles and wind turbines, is produced mainly from monazite-bearing sands found along India's coastal belts. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is incorrect, but Statement II is correct.
- 2Statement I is correct, but Statement II is incorrect.
- 3Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 4Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.✓
Correct answer
Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
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