India Eyes Self-Reliance With INR 7,280 Cr Rare Earth Magnet Manufacturing

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SUMMARY

The Union Cabinet has approved the ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets’ with an allocation of INR 7,280 Cr

The scheme aims to develop domestic REPMs manufacturing capability with a capacity of 6,000 metric tonnes per annum (MTPA)

The scheme will be valid for a period of seven years, including a two-year gestation period and the remaining for incentive disbursement

With an eye on reducing dependence on imports, the Union Cabinet has…



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India Eyes Self-Reliance With INR 7,280 Cr Rare Earth Magnet Manufacturing


SUMMARY

The Union Cabinet has approved the ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets’ with an allocation of INR 7,280 Cr

The scheme aims to develop domestic REPMs manufacturing capability with a capacity of 6,000 metric tonnes per annum (MTPA)

The scheme will be valid for a period of seven years, including a two-year gestation period and the remaining for incentive disbursement

With an eye on reducing dependence on imports, the Union Cabinet has…



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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