Ministry of Heavy Industries Extends REPM Scheme Tender Timeline
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 extension comes in response to demands from multiple stakeholders seeking more time for participation. The Bid Due Date has been rescheduled from June 29, 2026 to July 29, 2026, while the opening of Technical Bids has been moved from June 30, 2026 to July 30, 2026. This extension aims to facilitate wider participation and provide additional time for stakeholders in the bidding process. An addendum detailing these changes has been published on the Central Public Procurement (CPP) Portal (https://eprocure.gov.in/eprocure/app) for information of all stakeholders.
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. This initiative follows the Union Cabinet approval chaired by Prime Minister Narendra Modi on November 26, 2025, which sanctioned the scheme with a financial outlay of Rs. 7,280 crore.
The REPM scheme represents a first-of-its-kind initiative aimed at establishing a total capacity of 6,000 Metric Tons Per Annum (MTPA) of integrated Rare Earth Permanent Magnet manufacturing facilities in India. This ambitious project is designed to enhance self-reliance and position 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 critically used in electric vehicles, wind turbines, high-end electronics, aerospace, and defense systems. By building a complete domestic value chain from NdPr oxide to finished magnets, the scheme is expected to significantly reduce India's import dependence in this strategic sector.