
West Bengal gears up for rare earth mining in Purulia
Geological Survey of India
(GSI) conducting advanced exploration in
Purulia district
, a senior official said on Friday.
Although the rare earth deposit in Purulia is relatively small, the development is significant as India looks to reduce dependence on imports of
critical minerals
essential for
electric vehicles
(EVs), electronics, and
renewable energy technologies
.
"G2-level exploration is underway in two blocks - one in Karbi Anglong district of Assam and the other in Purulia, West Bengal," GSI Director General Asit Saha said on the sidelines of the Assocham-organised 3rd edition of Minerals and Mining conclave.
He added that these blocks are expected to be ready for auction within a year.
The G2 stage represents an advanced level of exploration, providing a fairly high degree of confidence in the resource estimation. Upon completion, the findings will be submitted to the respective state mines departments and the Union Ministry of Mines for further action, Saha said.
While GSI has not identified specific rare earth elements in these locations yet, Saha said the deposits typically consist of a "basket of 14-17 rare earth minerals," making the extraction and processing technically challenging.
He noted that India has discovered promising
vanadium deposits
- another critical mineral - in the lower Himalayan belt.
"We have very good vanadium resources in the Himalayan region, which are essential for energy storage and alloy production," Saha said.
According to him, nearly 50 per cent of ongoing early-stage exploration projects in the country are focused on rare earth elements, reflecting their growing strategic importance.
However, operationalisation of mines faces challenges, including land acquisition issues, environmental clearances, and lack of private sector interest.
Separately, Union Heavy Industries Minister H D Kumaraswamy on Friday announced that the central government will soon launch a Rs 1,345 crore scheme to boost manufacture of rare earth magnets domestically.
These magnets are critical components in electric motors used in EVs, wind turbines, and defence applications.
India is also actively pursuing
lithium exploration
, with 20 projects spread across four to five states, officials said. PTI
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hans India
34 minutes ago
- Hans India
Nizam's kin urges CM to repatriate jewellery from Delhi
Hyderabad: To boost tourism in the State, the Nizam's kin urged the Chief Minister A Revanth Reddy to bring Nizam's jewellery back to Hyderabad, which remains locked away in Delhi. The great-grandson of the 7th Nizam, Himayat Ali Mirza in a letter to CM proposed for construction of an exclusive museum to exhibit the Nizam's Jewellery in the city, in the vacant government lands acquired under the Urban Land Ceiling Act. 'The jewellery remains locked away in Delhi, far from Hyderabad—the land of its origin. They symbolize an era that shaped the identity, infrastructure, and prosperity of the region,' he emphasised in the letter. Himayat Ali recalled how this extraordinary collection comprises 173 rare and exquisite items of jewellery which were acquired by the Government. In 1995, the Government of India acquired the entire collection for Rs 217 crore. These artefacts are unmatched in craftsmanship, legacy, and value—widely admired by connoisseurs and coveted by prestigious institutions such as Christie's and Sotheby's. 'I was personally present, along with my uncle Prince Muffakham Jah and other Nizam Trust officials, when government representatives retrieved the jewellery from the vaults of the Hong Kong and Shanghai Bank in Colaba, Mumbai,' he recalled. According to Nizam's great grandson, this would generate employment across tourism, hospitality, security, and retail sectors and increase international tourism inflow, making Hyderabad a global heritage destination, besides boosting the economy. 'The Union Minister for Tourism has publicly indicated that the jewellery may be returned to Hyderabad, provided a secure and suitable facility is made available. I urge you to engage with the Central Government to take this dialogue forward with urgency,' he appealed to the CM, in the letter.
&w=3840&q=100)

Business Standard
38 minutes ago
- Business Standard
Delhi-NCR luxury home sales soar 209% in H1 2025, all flats above ₹6 cr
If you've been watching the real estate space for signals on where India's wealth is heading, here's a telling one: Delhi-NCR recorded a 209.4% spike in luxury home sales in the last one year—3,960 homes priced at ₹6 crore and above were sold in just the first half of 2025, up over three times from 1,280 units last year, according to a new CBRE-Assocham report. What's driving this luxury housing surge? Here are the key factors at play: Rising disposable income: Aided by accommodative monetary policy and rising incomes in the salaried and entrepreneurial class. Desire for larger, well-located homes: Post-pandemic lifestyle upgrades are here to stay—homebuyers now prioritise space, amenities, and prime locations. Developer confidence and quality: Developers are focusing more on transparency, experience, and high-end finishes—boosting buyer trust. Stable interest rates: RBI's pause on rate hikes has made home loans relatively more attractive, even in the luxury segment. 'The standout growth of luxury and premium housing indicates rising consumer confidence and lifestyle aspirations,' said Gaurav Kumar, MD - Capital Markets and Land at CBRE India. Where are the big jumps happening? Delhi-NCR: 3,960 units sold in Jan–June 2025 vs 1,280 a year ago Mumbai: 1,240 units sold vs 950 Bengaluru: 200 units sold vs 80 Chennai & Kolkata: Both saw more than 2.5x growth Hyderabad & Pune: Bucked the trend with slight drops "The housing boom, coupled with policy evolution, highlights the need for reforms that ease approvals, redefine affordable housing in urban India, and incentivise sustainable development," Manish Singhal, Secretary General, ASSOCHAM, said. Total sales in the top seven cities rose to 6,950 units in January-June 2025 from 3,750 units in the corresponding period of the preceding year. Commenting on the data, Jash Panchamia, Executive Director at Jaypee Infratech Ltd, said, "The sharp surge in demand for premium residential properties during the first half stands as a clear testament to the fact that the appetite of homebuyers continues to remain robust and resilient across the leading real estate micro-markets in the country." The various reform measures announced in the Union Budget and the RBI's accommodative monetary policy stance have played a pivotal role in enhancing the overall disposable income levels of the average household, he added.


Economic Times
39 minutes ago
- Economic Times
IITian still remembers each of 75 rejections but went on to build a Rs 9,500 crore business. Who is Pavan Guntupalli, founder of Rapido?
Synopsis Pavan Guntupalli, an IIT Kharagpur alumnus, transformed a simple concept into Rapido, a bike-taxi service valued at ₹6,700 crore. Overcoming initial setbacks with his logistics startup and investor skepticism, Guntupalli secured funding from Hero MotoCorp's Pawan Munjal. Agencies How this IITian Turned Startup Failure Into India's Largest Bike-Taxi Platform While it's common to hear tales of Indian Institute of Technology (IIT) alumni achieving stellar positions in global corporations, one particular journey stands out for breaking the mold—a tale of entrepreneurship, resilience, and remarkable brand-building worth Rs 6,700 crore in under ten years. This narrative has become a beacon of motivation for many aspiring Indian the many successful IITians, Pavan Guntupalli's story shines as a standout example. Originating from Telangana, Guntupalli cracked the demanding IIT-JEE entrance exam and completed his degree at IIT Kharagpur. He began his professional journey at tech giant Samsung before venturing into the startup world. His initial business effort was a logistics venture named 'theKarrier,' which he co-founded with a friend. Despite their dedication, the company didn't take off and eventually shut down. Yet, Guntupalli remained undeterred. Using his learning from that setback, he launched Rapido—a bike-taxi and auto-rickshaw service aimed at offering quick and inexpensive commuting options to everyday his vision to life wasn't easy. Convincing investors of Rapido's potential was a daunting challenge. Over 75 potential funders rejected the proposal, largely due to fears that the startup couldn't compete with dominant players. But Pavan's determination never wavered. In an interview with NDTV Profit, he said that he still remembers the 75 rejections but acknowledges that some of them were valid. "We learnt from it," he said. What gave Rapido an edge was its unconventional growth strategy. While most ride-hailing services zeroed in on India's metro cities, Rapido turned its focus to tier-1 and tier-2 towns, where mobility issues were widespread and solutions limited. Initially, the company offered highly competitive rates—a base fare of Rs 15 and Rs 3 per kilometer—prioritizing affordability even at the cost of grassroots-level thinking paid off. Rapido gradually expanded across India and today operates in over 100 cities. Its mobile app has recorded over 5 crore downloads, and it boasts a dedicated network of 50,000 riders, referred to as 'captains,' serving a growing user base of around 7 lakh active of 2025, Rapido has grown into a solid brand valued at Rs 9,350 crore, as per a report. According to a report by Inc42 , the company's annual revenue has crossed Rs 1,000 crore, solidifying its position in India's fast-growing mobility sector—all born from one man's refusal to quit after failure.