The Union government has extended timelines for a global tender under a Rs 7,280-crore scheme aimed at boosting domestic manufacturing of sintered rare earth permanent magnets. Bid submission now ends on June 29, up from May 28, while technical bids will be opened on June 30, 2026 instead of May 29. The response to bidder queries will be issued on June 9. Approved by the Cabinet in November 2025, the programme targets 6,000 MTPA of integrated magnet capacity, cutting import dependence across EVs, wind, electronics, and defence.
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