The Ministry of Heavy Industries (MHI), Government of India, has extended the bid submission timeline for its global tender under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM scheme). The Bid Due Date has been extended from July 29, 2026 to August 12, 2026, while the opening of Technical Bids has been rescheduled from July 30, 2026 to August 13, 2026. This extension aims to facilitate wider participation and provide additional time for stakeholders in the bidding process, with the addendum published on the Central Public Procurement Portal.
The global tender was originally invited by the Ministry on March 20, 2026, for the selection of manufacturers as beneficiaries under the REPM scheme to establish integrated rare earth permanent magnet manufacturing facilities in India. The scheme was approved by the Union Cabinet chaired by Prime Minister Narendra Modi on November 26, 2025, with a financial outlay of ₹7,280 crore. This first-of-its-kind initiative aims to establish a total capacity of 6,000 Metric Tons Per Annum (MTPA) of integrated Rare Earth Permanent Magnet manufacturing facilities, enhancing self-reliance and positioning India as a key player in the global REPM market.
Rare Earth Permanent Magnets are among the most powerful magnets in the world and are widely used in electric vehicles, wind turbines, high-end electronics, and aerospace and defense systems. By building a complete value chain from NdPr oxide to finished magnets in India, the Scheme is expected to significantly reduce import dependence in this critical sector.