The Ministry of Heavy Industries has decided to extend the timelines for a global tender aimed at promoting the manufacturing of Sintered Rare Earth Permanent Magnets (REPM). The bid due date, originally set for June 29, 2026, has been pushed to July 29, 2026. Additionally, the opening of technical bids, initially scheduled for June 30, 2026, will now take place on July 30, 2026. This extension was granted to allow wider participation and offer stakeholders more time for the bidding process, as per an official statement from the ministry.
The global tender, launched on March 20, 2026, by the Ministry, seeks to select manufacturers as beneficiaries under the REPM scheme. The objective is to establish integrated rare earth permanent magnet manufacturing facilities in India. Prospective applicants participating in the bidding process can submit their bids to set up integrated sintered NdFeB REPM manufacturing facilities in India. Successful applicants may qualify for capital subsidy and sales-linked incentives under the scheme.
The bidding process will be conducted online using a transparent Least Cost System (LCS) with two stages: Technical Bid and Financial Bid, through the Central Public Procurement (CPP) Portal. An Addendum has been released on the CPP Portal to inform all stakeholders about the timeline extension. The Union Cabinet approved the scheme in November 2025 with a financial outlay of Rs 7,280 crore.
The REPM scheme, a pioneering initiative, aims to establish a total capacity of 6,000 Metric Tons Per Annum (MTPA) of integrated Rare Earth Permanent Magnet manufacturing facilities in India. This move is expected to boost self-reliance and position India as a significant player in the global REPM market. Rare Earth Permanent Magnets, known for their strength, find extensive applications in electric vehicles, wind turbines, high-end electronics, aerospace, and defense systems. By creating a complete value chain from ‘NdPr oxide’ to finished magnets within India, the scheme aims to reduce import dependence in this sector significantly.
