REPM scheme approved to build India's integrated manufacturing ecosystem for high-value magnets

¨     REPM scheme approved to build India's integrated manufacturing ecosystem for high-value magnets.

¨     The Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM) has been approved by the Government.

¨     An outlay of over ₹7,000 crore has been sanctioned for implementation of the scheme.

¨     The scheme aims to build India’s first integrated domestic manufacturing ecosystem for high-value magnets.

¨     A production capacity of 6,000 metric tonnes per annum will be created across the entire value chain.

¨     The value chain will span from rare-earth oxides to finished magnets.

¨     India has large reserves of rare-earth minerals in several coastal and inland areas.

¨     These minerals are found in beach sands, red sands, and inland alluvial soils in Andhra Pradesh, Odisha, Tamil Nadu, Kerala, West Bengal, Jharkhand, Gujarat, and Maharashtra.

¨     The initiative is aimed at reducing dependence on imports, particularly from China.

¨     The Ministry of Mines has entered into bilateral agreements with mineral-rich countries, including Australia, Argentina, and Zambia.

¨     This initiative supports India's energy transition, strengthens domestic industrial capacity, creates employment, and advances the vision of a self-reliant and developed India by 2047.

¨     It also aims to strengthen supply chains for strategic and high-growth sectors such as electric mobility, renewable energy, electronics, aerospace, and defense.