Govt notifies Rs 7,280-cr scheme to manufacture rare earth magnets in India

Indian Government Unveils ₹7,280 Crore Scheme to Boost Rare Earth Magnet Manufacturing

The Ministry of Heavy Industries has announced a ₹7,280 crore initiative aimed at strengthening domestic production of rare earth magnets, reducing import dependence, and supporting the entire value chain of magnet manufacturing. Incentives and Financial Support The scheme offers sales-linked incentives capped at ₹2,150 per kilogram of sintered NdFeB magnets, payable after commissioning of the manufacturing capacity, with total incentives rangin…

Govt notifies Rs 7,280-cr scheme to manufacture rare earth magnets in India

New Delhi, Dec 16 (PTI) The Centre has notified the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM) with an outlay of Rs 7,280 crore. The initiative is targeting to reduce dependence on China for critical inputs and secure supply chains for EVs, electronics, aerospace and green energy.The scheme, approved earlier by the Union Cabinet, aims to build a complete domestic value chain of converting rare earth oxide into…

Centre Notifies Rs 7,280 Crore Scheme To Boost Domestic Manufacturing Of Rare Earth Magnets, Cut China Dependence

The Centre has officially notified the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM) with a total outlay of Rs 7,280 crore, marking a major step towards reducing India’s dependence on China for critical rare earth inputs and strengthening domestic supply chains for strategic sectors. The initiative, which was earlier approved by the Union Cabinet, seeks to establish a complete indigenous value chain — from rare …