The Ministry of Heavy Industries (MHI) has extended the bid submission deadline for the global tender under the Rare Earth Permanent Magnet (REPM) scheme from 29 July 2026 to 12 August 2026. The technical bid opening date has also been shifted to 13 August 2026 to encourage wider participation. Approved with a ₹7,280 crore financial outlay, the scheme aims to establish 6,000 MTPA integrated REPM manufacturing capacity in India, reducing import dependence and supporting applications in EVs, wind turbines, electronics, aerospace, and defence sectors.
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