%7,300 cr for rare earth magnet plan

THE SCHEME WILL support both public and private sector manufacturers with capabilities across the value chain, from raw material processing to finished magnet production.

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Under the revised plan, at least five companies will be eligible for incentives, each for up to 1,200 metric tonne of annual production. Earlier, the plan was limited to two producers. The change follows feedback from the industry and suggestions from the Prime Minister’s Office to broaden participation.