Overview
- The heavy industries ministry moved the bid due date to 29 June and set the technical-bid opening for 30 June to allow wider participation.
- The ministry said it will issue responses to bidder queries on 9 June, following questions submitted before 22 April.
- The programme backs five factories targeting 6,000 tonnes a year of neodymium‑iron‑boron permanent magnets with capital support and five years of sales-linked incentives under a seven-year scheme.
- Under the guidelines, state-run India Rare Earth Ltd will supply oxides to the three lowest-bid plants, with 500 tonnes assured in total for selected firms, which could yield about 1,500 tonnes of magnets based on industry ratios.
- The push follows export halts by China in 2025 and China’s grip on roughly 60% of mining and about 90% of processing, which has left India dependent despite sizable reserves.