India, Dec. 29 -- The Indian government has approved the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM) with a total financial outlay of Rs. 7,280 crore.

The scheme seeks to establish 6,000 metric tonnes per annum (MTPA) of integrated REPM manufacturing capacity within the country, spanning the entire value chain-from rare-earth oxides to finished permanent magnets.

By creating a robust, domestic, end-to-end manufacturing ecosystem, the initiative aims to significantly enhance India's self-reliance in a critical input for key sectors such as electric vehicles, renewable energy, electronics, aerospace, and defence. The programme is also designed to position India as a competitive global player in the rare...