India, Nov. 26 -- The Union Cabinet has approved a Rs 7,280-crore scheme to establish an integrated rare-earth permanent magnet manufacturing ecosystem.

Five units with a combined capacity of 6,000 TPA are expected to begin production in two to three years, replacing India's current import dependence.

The plan aims to create India's first end-to-end rare-earth value chain, with CAPEX support and production-linked incentives.

Officials say the initiative will strengthen supply chains for EVs, electronics, defence and aerospace while meeting high environmental standards.

India will establish an integrated rare-earth permanent magnet (REPM) manufacturing ecosystem with a budgetary outlay of Rs 7,280 crore over seven years, the Union Cabi...