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When it comes to rare earth and renewable energy, Finance Minister Nirmala Sitharaman has encouraged the sector to develop norms. In order to promote governmental involvement, she suggested that the industry should showcase its potential and regularly share it with the government. She also exhorted the sector to lead the way in terms of the newest developments in rare earth elements, renewable energy, and the translation of all of these into practical technologies as well as payments to micro, small, and medium-sized businesses (MSMEs) during the term of the contract.