India to Launch Rs. 7,350 Crore Rare Earth Magnet Scheme

Rare Earth Sector News India

The Government of India is set to introduce a Rs. 7,350 crore scheme to establish a fully indigenous manufacturing ecosystem for sintered rare earth permanent magnets (REPMs) over seven years. The initiative will support the entire value chain from rare earth oxide conversion to magnet production, with five integrated units each producing up to 1,200 tonne annually. The scheme will offer sales-linked incentives and a 15 percent capital subsidy to offset setup costs. Targeting key sectors like automotive, electronics, defence, and wind energy, it aims to achieve 6,000 tonne annual capacity.

Note: The above-mentioned news was first published by us in our ProjectX India | 1st November 2025 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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