Government receives 20 bids for rare earth permanent magnet manufacturing scheme

August 13, 2026 7:20 PM

Government receives 20 bids for rare earth permanent magnet manufacturing scheme

The Ministry of Heavy Industries (MHI) has received 20 bids under its scheme to promote manufacturing of sintered rare earth permanent magnets (REPM), marking a significant step towards establishing an indigenous manufacturing ecosystem for the strategic material. The bids were submitted through a global tender floated on the Central Public Procurement (CPP) portal for selecting manufacturers to establish integrated sintered neodymium-iron-boron (NdFeB) rare earth permanent magnet manufacturing...

Cabinet approves Rs 7,280 crore scheme to boost domestic manufacturing of Rare Earth Permanent Magnets

November 26, 2025 4:41 PM

Cabinet approves Rs 7,280 crore scheme to boost domestic manufacturing of Rare Earth Permanent Magnets

The Union Cabinet on Wednesday approved a ₹7,280-crore scheme to promote the manufacturing of sintered Rare Earth Permanent Magnets (REPM), a critical component used across electric vehicles, renewable energy systems, aerospace, defence and electronics. Chaired by Prime Minister Narendra Modi, the Cabinet cleared the “Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets,” marking the first major government initiative to develop an integrated REPM ecosystem in India. T...