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Rare Earth Permanent Magnet Manufacturing
November 29 , 2025
14 hrs 0 min
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- The Union Cabinet approved a ₹7,280 crore scheme to make Sintered Rare Earth Permanent Magnets (REPM).
- This is the first-of-its-kind scheme in India to build a full REPM ecosystem.
- The plan will set up 6,000 Metric Tons per Annum (MTPA) of integrated REPM manufacturing.
- REPMs are strong magnets used in electric vehicles, renewable energy, electronics, aerospace, and defence.
- The scheme offers ₹6,450 crore in sales-linked incentives and ₹750 crore as capital subsidy.
- The scheme will run for 7 years and supports Atmanirbhar Bharat (self-reliant India) and the Net Zero 2070 goal.
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