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Union Cabinet approves ₹7,280 crore scheme for rare earth permanent magnets
The Statesman Bhubaneswar
|November 27, 2025
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a INR 7,280-crore "Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets", aimed at building domestic capacity in a strategically critical segment dominated globally by China.
According to an official statement, the first-of-its-kind initiative seeks to create 6,000 metric tonnes per annum (MTPA) of integrated Rare Earth Permanent Magnet (REPM) manufacturing capacity in India, strengthening self-reliance and positioning the country as an emerging player in the global magnet supply chain.
Dit verhaal komt uit de November 27, 2025-editie van The Statesman Bhubaneswar.
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