Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets
Rs 7,280 cr scheme (Nov 2025) to build 6,000 MTPA NdFeB magnet capacity; India's instrument to close the magnet import gap.
Relationships
- Beneficiary ofMinistry of Heavy Industries
- Invests inVedanta Limited
- Invests inIREL (India) Limited
- Competes withPeople's Republic of China
- Invested in byVedanta Limited
- Supplied byRare Earth Elements / Neodymium-Praseodymium
- Invested in byHindustan Zinc Limited (HZL)
- Beneficiary ofIREL (India) Limited— Reuters (Sep 2025) named IREL as one of two recipients of government REPM-related funding alongside MAM.
- Beneficiary ofMidwest Advanced Materials— Reuters (Sep 2025) named MAM as a private recipient of government REPM-related funding.
- FundsMinistry of Heavy Industries— Rs.6,450 cr sales-linked incentives + Rs.750 cr capital subsidy. 6,000 MTPA target. Cabinet-approved 26 Nov 2025.