India's Initiative in Manufacturing Rare Earth Permanent Magnets
The Government of India is taking measures to boost its capability in the manufacturing of Rare Earth Permanent Magnets (REPMs), aiming for self-reliance in this strategic sector. Despite India's rich reserves of Rare Earth Elements (REEs), the complexity of extraction processes and limited industrial capabilities have resulted in dependencies on imports for RE magnets. To counteract this, the Union Cabinet has approved a scheme to promote the manufacturing of Sintered Rare Earth Permanent Magnets, with a significant financial outlay to establish 6,000 Metric Tons per annum of REPM production within India.
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