Larsen & Toubro Ltd. plans to manufacture rare-earth magnets in India, said people familiar with the matter, as the engineering giant rides a government push to reduce a reliance on imports and loosen China’s stranglehold over the critical industrial component.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-08-11/construction-giant-l-t-said-to-plan-india-rare-earth-magnet-bid)