In Short : India is targeting domestic production of rare earth permanent magnets by year-end to reduce reliance on imports. The initiative aims to strengthen supply chain security for electric vehicles, renewable energy systems, and defense applications while supporting strategic mineral development and enhancing self-reliance in critical clean energy components. In Detail : India is […]
₹7,280 Crore Rare Earth Magnet Scheme Advances as Centre Prepares RfP to Strengthen Strategic Manufacturing – EQ
In Short : India’s ₹7,280 crore rare earth magnet manufacturing scheme has moved closer to implementation as the Centre prepares to issue a Request for Proposal. The initiative aims to build domestic capabilities in critical materials, reduce import dependence, support clean energy and electric mobility sectors, and strengthen India’s strategic and industrial resilience in key […]
Centre to Invite Bids for Rare Earth Magnet Manufacturing Plants by January-End – EQ
In Short : The Indian government is expected to open bidding by the end of January for setting up rare earth magnet manufacturing plants. This move aims to strengthen domestic production of critical materials essential for electric vehicles, renewable energy, and high-tech industries. The initiative supports India’s strategic push for self-reliance in advanced manufacturing and […]
HDK Proposes Fiscal Incentives to Boost Domestic Rare Earth Magnet Manufacturing – EQ
In Short : Union Minister HDK (H. D. Kumaraswamy) indicated that fiscal incentives are being considered to promote the local manufacturing of rare earth magnets in India. The move aims to reduce import dependence, strengthen the domestic supply chain for critical materials, and support sectors like renewable energy, electric vehicles, and advanced electronics, aligning with […]