Ministry of Heavy Industries organized pre-bid conference for 25 companies under ₹7,280 crore Rare Earth Magnet Scheme.
Scheme targets 6,000 MTPA manufacturing capacity through selection of up to 5 entities via transparent bidding process.
Bidding follows two-stage Least Cost System mechanism with bid submission deadline of 28th May 2026.
REPM magnets are critical for electric vehicles, renewable energy, electronics, aerospace, and defense applications.