The Ministry of Heavy Industries has invited global bids for setting up integrated Sintered NdFeB Rare Earth Permanent Magnet (REPM) manufacturing facilities with a total capacity of 6,000 MTPA in India.

The bidding process, launched through a Request for Proposal (RFP), will allow eligible applicants to avail capital subsidies and sales-linked incentives under the government’s flagship scheme to boost domestic manufacturing.

Approved in November 2025 with an outlay of Rs 7,280 crore, the scheme offers Rs 750 crore as capital subsidy and Rs 6,450 crore as sales-linked incentives. Individual beneficiaries will be allocated capacities ranging from 600 to 1,200 MTPA.

The tender process will follow a two-stage system (technical and financial bids) via the Central Public Procurement Portal. Pre-bid discussions are scheduled for April 7, 2026, while bid submissions will close on May 28, 2026.

This initiative aims to build a complete domestic value chain for rare earth magnets—critical components used in electric vehicles, wind turbines, electronics, and defence—thereby reducing import dependence and strengthening India’s position in the global REPM market.