India’s ₹7,280-Crore Rare Earth Magnet Scheme Draws 20 Bids from Major Industry Players – EQ

In Short : India’s ₹7,280-crore rare earth permanent magnet manufacturing scheme has attracted 20 bids from companies including Larsen & Toubro, Coal India and ReNew. The initiative aims to establish 6,000 MTPA of integrated NdFeB magnet capacity, reduce import dependence and strengthen domestic supply chains supporting electric vehicles, renewable energy, electronics, aerospace and defence industries. [...]