In a strategic push for industrial self-reliance, India’s Heavy Industries Ministry has opened the doors for bids on Friday to build cutting-edge manufacturing plants for sintered rare earth permanent magnets. The RFP targets integrated NdFeB REPM facilities boasting 6,000 MTPA capacity, a cornerstone of the government’s vision to conquer global supply chains.
Approved by the Cabinet chaired by PM Narendra Modi on November 26, 2025, this Rs 7,280 crore scheme breaks new ground. It dangles Rs 750 crore capital subsidies and a whopping Rs 6,450 crore in sales-linked incentives to lure investors. Top three bidders snag priority NdPr oxide from state-run IREL, fast-tracking their operations.
The procurement plays out digitally on the CPP portal via a fair, two-phase LCS process. Tender docs drop March 20, 2026; pre-bid huddle on April 7; submission deadline May 28; technical bids open May 29.
These magnets aren’t just powerful—they’re indispensable. Fueling EV motors, wind energy generators, consumer gadgets, aircraft components, and military hardware, REPMs are the unsung heroes of modern tech. India’s plan spans the entire chain, from raw NdPr oxide to polished products, poised to dismantle import barriers and ignite domestic growth.
Industry watchers hail this as a game-changer. With China dominating 90% of global production, India’s entry could reshape trade dynamics, bolster national security, and spawn thousands of skilled jobs. As the bid window opens, entrepreneurs and conglomerates gear up to claim a slice of this high-stakes opportunity, propelling India into the league of magnet manufacturing powerhouses.