India Cabinet Clears INR 7,280-Crore Push for Rare Earth Magnet Manufacturing to Boost EV, Defence, and Aerospace Supply Chains

On November 26, 2025, India approved a INR 7,280-crore scheme to establish an integrated manufacturing ecosystem for sintered Rare Earth Permanent Magnets (REPM). This initiative aims to enhance domestic production, reduce import reliance, and support the Atmanirbhar Bharat mission, aligning with India’s Net Zero 2070 commitments while creating skilled jobs and boosting advanced manufacturing.