The green mobility aspirations of India have necessitated substituting conventional vehicles with electric motor-driven counterparts. The rare earth permanent magnet-based motor is the dominant solution for electric vehicle motor architectures as it ensures energy efficiency with reduced kerb weight and increased vehicle range. This study estimates the magnet-based rare earth demand for the realistic aspirational growth trajectories of electric four-wheelers up to 2030. During the first phase (2021-25), a high year-on-year growth rate for the e-car segment is assumed, which creates the base for electric vehicle penetration, whilst the second phase (2026-30) envisages a rapid product substitution at the cumulative level by 2030. The estimated total demand for rare earth materials during 2021-30 is between 1434 and 3584 tonnes. Analysis indicates that India could leverage its strong position in the global automotive market and geopolitical proximity to the favourable global powers for collaboration in research and development, technology transfer, and securing raw material supply.