India Advances Towards REPM Manufacturing Independence with New Scheme
The Indian Government, under the leadership of the Union Minister for Heavy Industries & Steel, Shri H.D. Kumaraswamy, has initiated a scheme to encourage the manufacturing of Sintered Rare Earth Permanent Magnets (REPMs). At a recent stakeholder consultation meeting, the Minister emphasized the scheme's role in pushing India towards a self-reliant and competitive REPM ecosystem by 2047, with an allocation of Rs. 7,280 crore for incentives and subsidies. This initiative aims at making India a key player in the global market.
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