In a bid to cut import dependence and build a domestic supply chain for critical components, the Ministry of Heavy Industries has invited global bids to set up rare earth permanent magnet (REPM) manufacturing facilities in India.
The government has floated a request for proposal (RFP) to select companies that will build integrated sintered NdFeB magnet manufacturing units with a total capacity of 6,000 metric tonnes per annum (MTPA). These high-performance magnets are a key input for electric vehicles, wind turbines, electronics, and defence systems.
