Union Cabinet approves Rare Earth Permanent Magnet manufacturing scheme worth ₹7,280 crore
Union Minister Ashwini Vaishnaw during Cabinet decision briefing on November 26, 2025. Photo: YouTube/PIB India The Union Cabinet on Wednesday (November 26, 2025) approved the ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets’ with a financial outlay of ₹7,280 crore. At present, India’s demand for REPMs is met primarily through imports. “This first-of-its-kind…