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The Economic Times

Economy / The Economic Times

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Govt extends bid deadline for Rs 7,280 crore rare earth magnet scheme till June 29

India is boosting its manufacturing of powerful rare earth permanent magnets. The government has extended deadlines for a major scheme to encourage domestic production. This initiative aims to build a complete value chain for these magnets. It will reduce import dependence and position India as a key global player.

15 May 2026 5:30 pm