Govt extends rare earth scheme's global tender timelines
New Delhi, June 25
The Ministry of Heavy Industries has extended timelines for a global tender under the scheme to promote manufacturing of Sintered Rare Earth Permanent Magnet to facilitate wider participation and provide additional time for stakeholders in bidding process, an official statement said on Thursday.
The bid due date has been moved from June 29, 2026 to July 29, 2026 and the opening of technical bids has been rescheduled from June 30, 2026 to July 30, 2026, due to demand for timeline extension by stakeholders, the statement from ministry said.
The global tender was invited by the Ministry on March 20, 2026 for selection of manufacturers as beneficiaries under the REPM scheme to establish integrated rare earth permanent magnet manufacturing facilities in India.
In this bidding process, prospective applicants can submit their bids to establish integrated sintered NdFeB REPM manufacturing facilities in India and can be eligible for availing capital subsidy as well as sales-linked incentives under the Scheme.
The bidding will be conducted online through a transparent Least Cost System (LCS) comprising two-stages (Technical Bid and Financial Bid) through Central Public Procurement (CPP) Portal.
The Addendum has been published on the Central Public Procurement (CPP) Portal for information of all stakeholders. The Union Cabinet, in November 2025, approved the scheme with a financial outlay of Rs 7,280 crore.
REPM is a first-of-its-kind scheme, aims to establish a total capacity of 6,000 Metric Tons Per Annum (MTPA) of integrated Rare Earth Permanent Magnet manufacturing facilities in India, thereby enhancing self-reliance and positioning India as a key player in the global REPM market.
Rare Earth Permanent Magnets are among the most powerful magnets in the world and are widely used in electric vehicles, wind turbines, high-end electronics, aerospace and defence systems. By building a complete value chain from 'NdPr oxide' to finished magnets in India, the scheme is expected to significantly reduce import dependence in this sector.
— IANS
Reader Comments
Good move extending the timeline - these are complex projects with huge capital requirements. But the government needs to ensure the bidding process remains fair and transparent. Also, what about the environmental impact of mining rare earths? We can't repeat the mistakes of other countries.
Interesting to see India making strides in this space. The global supply chain for rare earths is fragile and dominated by a few players. This could be a strategic win if executed well. The 6,000 MTPA target is ambitious but achievable with the right technology partners.
Arrey, this is big news! EV and wind energy sectors will get a major boost if we can produce these magnets locally. But I hope the scheme doesn't just benefit big corporates - small and medium manufacturers should also get a chance. The 'Least Cost System' sounds good on paper but past experience tells us to be cautious.
This is a smart geopolitical move. Rare earth magnets are critical for defense systems too - from missile guidance to radar. Reducing import dependence isn't just about economics, it's about national security. Let's hope the tender attracts global expertise while building Indian capability.
Great initiative but the government needs to address the high cost of setting up such facilities in India. Power tariffs, logistics, and land acquisition remain major hurdles. Also, where is the rare earth ore coming from? We have reserves in Odisha and Andhra but mining approvals are stuck in red tape. Fix those first!
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