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₹1,345 cr incentive scheme proposed for rare earth magnets production
Millennium Post Kolkata
|Kolkata 12July2025
Inter-ministerial consultations are underway for a Rs 1,345-crore scheme to subsidise production of rare earth magnets in India with two select manufacturers proposed to be given incentives, Union Heavy Industries Minister H D Kumaraswamy said on Friday.
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NEW DELHI:
The proposed scheme comes in the wake of China restricting exports of rare earth magnets that has hit global supplies, impacting EV makers, including in India.
This story is from the Kolkata 12July2025 edition of Millennium Post Kolkata.
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