The Union Cabinet has approved a new initiative to scale up manufacturing of sintered rare earth permanent magnets (REPMs), a key component across electric vehicles (EVs), renewable energy and defence. The decision comes at a time when China’s tighter export norms on rare earth magnet materials are set to heighten supply challenges for Indian industries.
A FIRST- OF-ITS-KIND MANUFACTURING PROGRAMME
The government has cleared a financial outlay of R
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