Government Revises Global Tender Timeline for ₹7,280 Crore Rare Earth Magnet Scheme

The Ministry of Heavy Industries (MHI) has revised the schedule for the global tender issued under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM). The extension has been granted following requests from multiple stakeholders seeking additional time to participate in the bidding process. 

Revised Tender Schedule 

The Bid Due Date has been extended from 29 June 2026 to 29 July 2026, while the Technical Bid Opening has been rescheduled from 30 June 2026 to 30 July 2026. 

An addendum reflecting the revised timeline has been published on the Central Public Procurement (CPP) Portal for the information of stakeholders. 

REPM Scheme and Manufacturing Plans 

The Ministry invited the global tender on 20 March 2026 to select manufacturers that will establish integrated REPM manufacturing facilities under the REPM Scheme. 

The scheme received Union Cabinet approval on 26 November 2025 under the chairmanship of Prime Minister Narendra Modi. It carries a financial outlay of ₹7,280 crore and targets the creation of 6,000 Metric Tonnes Per Annum (MTPA) of integrated REPM manufacturing capacity in India. 

Focus on Domestic Manufacturing 

The initiative aims to establish a complete domestic manufacturing value chain, beginning with NdPr oxide and extending to finished REPM. 

These magnets are among the world's most powerful and are widely used in electric vehicles, wind turbines, high-end electronics, aerospace and defence systems. 

The scheme is intended to strengthen domestic manufacturing capacity, reduce import dependence and position India as a participant in the global REPM market. 

Read More: Government Advances Diesel Biofuel Push; Tata Motors to Test Isobutanol Blends! 

Conclusion 

The revised tender schedule provides additional time for stakeholder participation as the government continues the implementation of its ₹7,280 crore REPM Scheme to develop integrated REPM manufacturing capacity in India.   

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