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Cabinet clears rare earth magnet incentive scheme

November 27, 2025

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Financial Express Mumbai

· Homegrown value chain for sunrise industries

- NITIN KUMAR

THE UNION CABINET on Wednesday approved an incentive scheme for rare earth permanent magnets (REPM) manufacturing with a corpus of ₹7,280 crore.

The Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets is touted as India's answer to China's stronghold over the global REPM supply chain.

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