Govt Unveils ₹7,280-Cr Scheme for Rare Earth Magnet Manufacturing

• Ministry of Heavy Industries launched a ₹7,280-crore scheme to boost domestic rare earth magnet production.
• Incentives capped at ₹2,150/kg for sintered NdFeB magnets, with sales-linked payouts up to ₹1,290 crore.
• Capital subsidy of ₹75-150 crore and minimum investment of ₹300-600 crore required.
• IREL will provide 500 TPA of NdPr oxide to beneficiaries under the scheme.
• Eligibility includes net worth criteria based on capacity, with lead partners needing 51% shareholding.

Why It Matters: India launches a ₹7,280-crore scheme to boost domestic rare earth magnet manufacturing.