Govt proposes Rs 1,345 crore Rare Earth Magnet scheme, forms inter-ministerial commitee
Govt proposes Rs 1,345 crore Rare Earth Magnet scheme, forms inter-ministerial commitee
The Ministry of Heavy Industries has floated a proposal for a Rare Earth Magnet Processing Scheme for inter-ministerial consultations, aimed at boosting domestic production and reducing import dependency on critical magnet components used in electric vehicles, electronics, and renewable energy technologies.
“We have floated the rare earth magnet processing scheme for inter-ministerial consultations,” said Kamran Rizvi, Secretary, Ministry of Heavy Industries."
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