{"id":85232,"date":"2025-11-28T00:00:00","date_gmt":"2025-11-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/government-launches-scheme-to-promote-magnet-manufacturing-in-india\/"},"modified":"2025-11-28T00:00:00","modified_gmt":"2025-11-28T00:00:00","slug":"government-launches-scheme-to-promote-magnet-manufacturing-in-india","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/mena-india\/2025\/11\/28\/government-launches-scheme-to-promote-magnet-manufacturing-in-india\/","title":{"rendered":"Government launches scheme to promote magnet manufacturing in India"},"content":{"rendered":"

The <\/strong>India<\/strong>n cabinet has approved a rare-earth permanent magnet<\/strong> manufacturing program <\/strong>with an outlay of INR 72.8 bn (USD 815.7 mn) to cut dependence on imports of materials essential to electric vehicles, aerospace, defense, and renewable energy, Information Minister Ashwini Vaishnaw said in a press briefing<\/a>. Domestic demand for these high-strength magnets is expected to double by 2030, yet India currently relies almost entirely on overseas suppliers, importing 53k metric tons in FY 25.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

The initiative will support new plants with a combined capacity of 6k metric tons <\/strong>annually<\/strong>, allocated to five companies through global competitive bidding each capped at 1.2k metric tons. The program will \u201cpractically reduce import dependence to zero\u201d once facilities are operational, bolstering India\u2019s supply-chain resilience in strategic sectors, Vaishnaw said.<\/p>\n

Market reactions:<\/strong> Both public and private companies across the electronics, automotive, and steel sectors have expressed interest in the scheme. Incentives will be awarded through a transparent, competitive process, allowing winning bidders to choose plant locations. <\/p>\n

The automobile industry welcomed the approval as a critical step.<\/strong> The program will spur investment in advanced materials and better position India in global EV and clean-energy value chains, Hindu<\/a> reports, citing Vikrampati Singhania, President of the Automotive Component Manufacturers Association. Renault Group India CEO St\u00e9phane Deblaise called the move \u201cpivotal\u201d to accelerate growth for automakers and suppliers as well as improve long-term competitiveness.<\/p>\n

Contextualizing the supply squeeze:<\/strong> China\u2019s dominance in the rare-earth supply chain has long exposed India to disruptions. Beijing has periodically tightened export controls<\/a> on rare-earth elements, disrupting manufacturing, particularly in the automotive sector, where companies<\/a> had to cut production targets due to the shortages. The government is promoting domestic manufacturing through policy initiatives while also bolstering supplies from other countries. <\/p>\n","protected":false},"excerpt":{"rendered":"

The program is aimed at securing domestic supply to make up for China\u2019s export controls<\/p>\n","protected":false},"author":1,"featured_media":85233,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2634],"tags":[2589,2633,2543,2632,2402,2440,2467],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-auto","tag-cabinet-watch","tag-critical-minerals","tag-electric-vehicles","tag-enterpriseam-india","tag-manufacturing","tag-policy","wpautop","entry"],"acf":{"mongo_id":"fe53ba3b-8f3a-44f0-acff-1a67f45b6d6c","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/11\/2107.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Government launches USD 817 mn scheme to promote magnet manufacturing in India","related_issue":[85228],"teaser":"The program is aimed at securing domestic supply to make up for China\u2019s export controls","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.8807b32e-e9d7-4e9b-8a00-e96befb4eb00.mp3"},"yoast_head":"\nGovernment launches scheme to promote magnet manufacturing in India - MENA India Corridors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/mena-india\/2025\/11\/28\/government-launches-scheme-to-promote-magnet-manufacturing-in-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government launches scheme to promote magnet manufacturing in India\" \/>\n<meta property=\"og:description\" content=\"The program is aimed at 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