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Economy News

The Economic Times

Economy / The Economic Times

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Govt extends deadline for bids under Rs 7,280-crore rare earth magnet scheme

Industry demands have prompted the Ministry of Heavy Industries to extend the bidding deadline for its rare earth permanent magnet incentive scheme by a month to July 29. This crucial initiative, with a 7,280 crore outlay, aims to build 6,000 Metric Tons Per Annum of integrated manufacturing capacity for these vital magnets. Technical bids will now be evaluated on July 30.

26 Jun 2026 12:26 am