The Ministry of Heavy Industries (MHI) has extended the bid submission deadline for the global tender under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM). The decision has been taken following requests from industry stakeholders seeking additional time to prepare their proposals. As per the revised schedule, the last date for bid submission has been extended from June 29 to July 29, 2026, while the opening of technical bids will now take place on July 30, 2026.
The global tender, launched on March 20, 2026, aims to identify qualified manufacturers for setting up integrated rare earth permanent magnet production facilities in India. Through this initiative, the government intends to strengthen domestic manufacturing capabilities and reduce dependence on imports of critical rare earth magnets used in advanced technologies.
Approved by the Union Cabinet in November 2025, the REPM Scheme has a total financial outlay of ₹7,280 crore. The programme targets the establishment of an integrated manufacturing capacity of 6,000 metric tonnes per annum (MTPA), supporting India’s long-term objective of developing a resilient and self-reliant supply chain for critical minerals and advanced manufacturing.
Rare earth permanent magnets are essential components in electric vehicles, wind turbines, consumer electronics, robotics, aerospace systems and defence applications. The scheme is expected to promote an end-to-end domestic value chain, covering the processing of Neodymium-Praseodymium (NdPr) oxide through to the production of finished magnets, helping improve supply security for key industries.
According to the ministry, extending the tender deadline will provide interested companies with sufficient time to prepare detailed proposals and encourage broader participation from both domestic and international manufacturers. Increased competition is expected to support the successful implementation of the scheme and attract greater investment into India’s rare earth manufacturing sector.
The REPM Scheme forms an important part of India’s strategy to strengthen clean energy, electric mobility and advanced manufacturing ecosystems. By promoting local production of rare earth permanent magnets, the initiative is expected to reduce import dependence, improve supply chain resilience, create employment opportunities and position India as a competitive global manufacturing hub for critical technologies.
