Cabinet Approves Rare Earth Magnet Manufacturing Scheme

Cabinet today approved the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets with a financial outlay of 7 thousand 280 crore rupees. This first-of-its-kind initiative aims to establish six thousand metric tonnes per annum of integrated Rare Earth Permanent Magnet manufacturing in the country. Briefing media in New Delhi this evening, Information and Broadcasting Minister Ashwini Vaishnaw highlighted that Rare Earth Permanent Magnet are one of the strongest types of permane...