On Wednesday (Nov 26), the Union Cabinet approved a Rs.7280 crore scheme to promote ‘manufacturing of sintered rare earth permanent magnets’. The meeting was chaired by Prime Minister Narendra Modi. This is also a first-of-its-kind initiative, which is aimed at establishing 6,000 metric tonnes each year of integrated Rare EarthPermanent Magnet (REPM) manufacturing in India.
Union cabinet approves 1st-of-its-kind ₹7280 crore rare earth permanent magnets scheme
Edited By Prashasti Satyanand Shetty
Published: Nov 26, 2025, 18:27 IST | Updated: Nov 26, 2025, 18:28 IST
&imwidth=800&imheight=600&format=webp&quality=medium "Union cabinet approves 1st-of-its-kind ₹7280 crore rare earth permanent magnets scheme")
Union cabinet approves 1st-of-its-kind Rs 7280 crore rare earth permanent magnets scheme Photograph: (Credit: PIB)
Story highlights
This is also a first-of-its-kind initiative, which is aimed at establishing 6,000 metric tonnes each year of integrated Rare Earth Permanent Magnet (REPM) manufacturing in India.
