India Approves Major Infrastructure Projects Worth ₹19,000 Crore

The Indian government has taken a significant step towards enhancing its infrastructure and self-reliance by approving key projects worth ₹19,000 crore during a pivotal Cabinet meeting on March 15, 2024. Union Minister Ashwini Vaishnaw confirmed the approval of four impactful initiatives, including a national plan to manufacture rare earth permanent magnets, as well as the expansion of the Pune Metro Rail Project.

Boosting Rare Earth Manufacturing

A notable highlight from the Cabinet meeting is the approval of a ₹7,280 crore scheme aimed at developing sintered rare earth permanent magnets (REPM). This initiative marks India’s first major foray into a sector where it has traditionally relied on China for imports. The plan is designed to establish an integrated annual manufacturing capacity of 6,000 metric tonnes, thereby fostering a self-sustaining ecosystem that will support domestic industries.

The comprehensive scheme includes converting rare earth oxides into metals, processing these metals into alloys, and ultimately manufacturing finished REPM components. With a projected seven-year timeline, the first two years will focus on setting up manufacturing facilities. Once operational, this project is poised to significantly reduce India’s dependency on imports and bolster emerging industries dependent on these materials for advanced manufacturing.

Expanding Urban Mobility in Pune

In addition to the rare earth manufacturing initiative, the Cabinet approved the expansion of Phase 2 of the Pune Metro Rail Project. This expansion involves two new elevated corridors—Kharadi to Khadakwasla (Line 4) and Nal Stop to Warje-Manik Baug (Line 4A)—with a total estimated cost of ₹9,857.85 crore. Authorities anticipate the completion of this expansion within five years, creating a 31.6-kilometre metro network featuring 28 stations.

These metro lines will enhance connectivity to major IT hubs, commercial areas, universities, and residential zones, ultimately addressing Pune’s growing transport needs. The project will also interface with existing metro lines, ensuring smoother last-mile connectivity and alleviating traffic congestion in the city.

Enhancing Railway Infrastructure

The Cabinet also gave the green light to two major railway projects, which include the doubling of the Devbhumi Dwarka (Okha)–Kanalus railway line, with an allocation of ₹1,457 crore, and the construction of the third and fourth railway lines between Badlapur and Karjat, costing ₹1,324 crore. These railway initiatives will extend the network by nearly 224 kilometres and are expected to improve connectivity for over 585 villages.

Officials emphasized the environmental and economic benefits of these projects, estimating a reduction of 3 crore litres in oil imports and a decrease of 16 crore kilograms of carbon dioxide emissions. This environmental impact is comparable to planting 64 lakh trees, aligning with India’s broader climate commitments.

The cumulative investment in these initiatives highlights the government’s commitment to infrastructure development and technological advancement, fostering economic growth while enhancing living standards across the nation.

In summary, these approvals represent a strategic move towards reducing India’s long-standing dependencies and strengthening its technological foundation. The rare earth magnet manufacturing scheme aims to position India as a competitive player in advanced electronics and clean energy products, while the expansions in urban mobility and railway infrastructure will facilitate improved services for millions of residents. Collectively, these projects pave the way for a more self-reliant and globally competitive India.