Union Minister for Heavy Industries & Steel Chairs Stakeholder Consultation Meeting on Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets.

• Central Sector Scheme of the Ministry of Heavy Industries (MHI) with a ₹7,280 crore outlay to build domestic sintered NdFeB rare-earth permanent magnet capacity.
• Targets strategic self-reliance (Atmanirbharta) in a critical input for EVs, wind turbines, drones, electronics & defence, breaking dependence on Chinese supply chains; aligned with Viksit Bharat @2047.