The Ministry of Heavy Industries (MHI) notified the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM) to build domestic manufacturing capacity for a strategic, high-value advanced material. MHI set a financial outlay of Rs. 7,280 crore and a manufacturing target of 6,000 Metric Tons per annum (MTPA) of sintered REPM manufacturing capacity in India.

MHI’s stated intent is to enhance India’s self-reliance in sintered rare earth permanent magnets and strengthen India’s role in the global REPM market. In UPSC terms, the scheme links funding with a measurable manufacturing capacity goal—useful for evaluating government schemes and industrial capability-building in GS2 and GS3.

What happened (notification details and stated aim)

MHI notified the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM). Key announced elements include:

Implementing ministry: Ministry of Heavy Industries (MHI).Scheme name: Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM).Financial outlay: Rs. 7,280 crore.Capacity target: establish 6,000 MTPA of sintered REPM manufacturing in India.Stated objective: enhance self-reliance and position India as a key global player in the REPM market.

Background and earlier position (why advanced magnets need policy attention)

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