New Delhi, Jan. 13 -- The Union Government is moving ahead with its plan to build a domestic manufacturing ecosystem for sintered rare earth permanent magnets (REPMs), a critical component for clean energy, mobility and advanced technologies.

Union Minister for Heavy Industries and Steel H.D. Kumaraswamy on Monday chaired a stakeholder consultation meeting on the recently notified Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets.

Addressing industry representatives and senior officials, the Minister described the scheme as a key intervention to establish a self-reliant, resilient and globally competitive REPM ecosystem.

He encouraged eligible domestic and international players to participate actively in the upco...