For facilitating Rare Earth Permanent Magnet manufacturing in India, the Ministry of Heavy Industries initiated the global tender.
Recently, the Ministry has announced in extending the global tender for REPM after multiple requests were received from manufacturers.
As per current reports, the date has been shifted from June 29 to July 29 for the respective bid submissions.
This global tender was initiated on March 20 by the Ministry, for the manufacturers to be selected as beneficiaries under the scheme of Rare Earth Permanent Magnet.
The Ministry states that this scheme was brought to promote sintered REPM manufacturing in India, thereby arranging wider participation and giving the stakeholders enough time for the bid submission process.
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Through the bid submission to the Ministry, the stakeholders enables in establishing a sintered NdFeB REPM manufacturing facilities in India. That, in return, avails the capital subsidy as well as the sales-based incentives under the respective scheme.
The NdFeB REPMs are said to be industrial plants that are also the strongest commercial magnets in the world, made of Neodymium, Iron, Boron, and trace of rare earth elements. These are crucial in the manufacturing of electric vehicles (EVs), turbines, and aerospace and defense.
The scheme under REPM aims to establish a total capacity of 6000 metric tons per annum, thereby promoting and enhancing self-reliance when it comes to imported resources.
As per reports, India currently imports all it requirements of NdFeB rare-earth permanent magnets from China. To reduce this dependency, India launched a 720 Crore rupees scheme that aims to establish 600 metric tonnes per annum.
This helps in positioning India as the key player in the global REPM market. As REPM is most widely used in electric vehicles, aerospace, and defense, through this scheme India also aims to strengthen the supply chain of sectors like EVs and turbines as well.
India is therefore encouraging global technology transfers, joint ventures, and capital investments to bring these integrated facilities. The government aims to select five beneficiaries that are capable of setting up 1,200 MTPA.
Also, all the technical and financial bids connected to this can be done online, transparently, on the Central Public Procurement Portal (CPP).
In accordance with the REPM scheme, the Union Budget of 2026-27 has announced Dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu.
These corridors are expected to focus on mining, processing, manufacturing, and research, considering the rich mineral base of the states.
This initiative is therefore expected to create stronger local economies, enhance R&D capacity, and include India more deeply into globally advanced mineral value chains.
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