Ministry of Heavy Industries (MHI) receives 20 bids under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent (REPM)

The Ministry of Heavy Industries (MHI) received 20 bids through the CPP portal for the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM). The scheme, approved by the Union Cabinet on 26 Nov 2025 with a financial outlay of Rs 7,280 crore, aims to set up integrated REPM facilities with a total capacity of 6,000 MTPA, allocating up to 1,200 MTPA each to five beneficiaries. The scheme’s duration is seven years (including a two‑year gestation period and five‑year incentive disbursement). REPMs are used in electric vehicles, wind turbines, high‑end electronics, aerospace and defence, and the initiative seeks to cut import dependence and support India’s Net‑Zero 2070 goal.