India to roll out ₹1,000 crore scheme to boost rare earth magnet manufacturing: Sources

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The Ministry of Heavy Industries (MHI) and the Department of Atomic Energy (DAE) are expected to finalise a rare earth magnet manufacturing scheme within the next 10-15 days, sources told CNBC-TV.

The government is set to launch a new initiative with an outlay of 1,000 crore aimed at incentivising the domestic production of rare earth magnets, critical components in sectors like electric vehicles, electronics, and defence, the sources said.

The plan will focus on supporting the manufacturing capacity of approximately 1,500 tonnes of rare earth…



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India to roll out ₹1,000 crore scheme to boost rare earth magnet manufacturing: Sources


The Ministry of Heavy Industries (MHI) and the Department of Atomic Energy (DAE) are expected to finalise a rare earth magnet manufacturing scheme within the next 10-15 days, sources told CNBC-TV.

The government is set to launch a new initiative with an outlay of 1,000 crore aimed at incentivising the domestic production of rare earth magnets, critical components in sectors like electric vehicles, electronics, and defence, the sources said.

The plan will focus on supporting the manufacturing capacity of approximately 1,500 tonnes of rare earth…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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