India extends rare earth magnet tender
Analysis based on 7 articles · First reported May 15, 2026 · Last updated May 15, 2026
The extension of the bid deadline for India's rare earth magnet manufacturing scheme is expected to attract wider participation, potentially strengthening India's domestic supply chain and reducing import dependence. This development is positive for industries reliant on these magnets, such as electric vehicles and wind energy, by ensuring a more robust local supply.
The India — Ministry of Heavy Industries has extended the bid submission and technical bid opening deadlines for its global tender under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM). The new bid due date is June 29, 2026, and technical bids will open on June 30, 2026. This decision, published on the India — Central Public Procurement Portal, was made following requests from multiple stakeholders to allow more time for preparation and facilitate wider participation. The REPM scheme, approved by the India — Union Council of Ministers chaired by Prime Minister Narendra Modi on November 26, 2025, has a financial outlay of Rs 7,280 crore. It aims to establish a 6,000 metric tons per annum domestic manufacturing capacity for rare earth permanent magnets in India, reducing reliance on imports and positioning India as a key player in the global supply chain for critical applications like electric vehicles, wind turbines, and aerospace systems.
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