New Delhi, Jan. 12 -- Union heavy industries minister H.D. Kumaraswamy on Monday chaired a stakeholder consultation with about 20 companies on the Rs.7,280-crore scheme to incentivize manufacturing of sintered rare earth magnets.

The meeting underscores India's push to build a domestic supply chain for rare-earth magnets, a critical input for electric vehicles (EVs), renewables and defence equipment.

"The consultation witnessed participation from over 20 industry stakeholders, and their concerns and suggestions on the scheme notification were discussed in detail," the minister said on X, formerly Twitter.

The industry's concerns over raw material security were addressed, with the government's assurance that state-run India Rare Earths ...