Domestic production of rare earth permanent magnets: Cabinet approves Rs.7,280-crore scheme

The Union Cabinet chaired by Prime Minister Narendra Modi, on November 26, 2025, approved ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets’ with a financial outlay of Rs.7,280 crore. This first-of-its-kind initiative aims to establish 6,000 tonnes per...