India Invites Global Bids for Rare Earth Magnet Manufacturing Units

• Ministry of Heavy Industries invites global bids for integrated manufacturing facilities for sintered rare earth permanent magnets (REPM).
• Scheme aims to boost domestic production with a total capacity of 6,000 MTPA for NdFeB-based REPM manufacturing units.
• Financial incentives include a capital subsidy of Rs 750 crore and sales-linked incentives worth Rs 6,450 crore.
• Initiative seeks to establish a complete domestic value chain, from raw material (NdPr oxide) to finished magnets, reducing import dependence.
• Bidding conducted online via a transparent Least Cost System (LCS); bid submission deadline is May 28, 2026.