Participate in rare-earth magnet manufacturing scheme, says Bhupender Yadav

Minister urges industry to invest in rare earth magnet manufacturing to boost green tech and EV value chains

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The Centre on Wednesday asked the industry to participate in the recently-announced Rare Earth Permanent Manufacturing (REPM) scheme, while calling it “another milestone” in its push for green transition and in acquiring self-sufficiency in critical mineral security.

 

“The scheme to promote manufacturing of rare earth permanent magnets (REPM) is another milestone. REPM powers EV motors and enhances efficiency in grid, wind turbines, and solar panels. Industry can participate by investing in these facilities, innovating across EV and renewable value chains, and scaling green manufacturing through that integration,” Union Environment Minister Bhupender Yadav said.

 

He was addressing a Confederation of Indian Industry (CII) event in New Delhi.

 

On November 26, the Union Cabinet approved a ₹7,280 crore scheme to promote manufacturing of sintered rare earth permanent magnets (REPM), marking India’s first attempt to build an integrated domestic supply chain for the critical material.

 

“Through this first-of-its-kind initiative, the government aims to establish 6,000 metric tons per annum of integrated REPM manufacturing in India, building a technology self-reliant, globally competitive, and sustainable industrial base,” Yadav said.

 

“I call upon industry to seize India’s green momentum and translate it into a real, scalable economy. By investing in research, infrastructure, system development, and collaboration with MSMEs and their partners, the industry can drive India’s vision of

a self-reliant, globally competitive, and sustainable industry,” he said.

 

The Union minister also said that India achieved all its key objectives at the recently-concluded COP 30.

 

“COP 30 has fully met India’s expectations,” he said.

 

Yadav said that 29 decisions were adopted by consensus, reflecting India’s stance on issues ranging from climate finance and unilateral trade measures to technological support and just transition.

 

“We ensured the setting up of proper technology implementation programmes to facilitate the technology needs of developing countries,” he said.

 

Yadav added that COP 30 established an institutional arrangement for just transition that recognises the specific needs and priorities of developing nations.

 

The minister said India stressed the need for enhanced global support to vulnerable populations in the Global South to help them withstand intensifying climate impacts.

 

“While barriers to climate finance persist, India is strengthening its ability to access funds through institutional capacity building,” he said.

 

COP 30 took place in Belém, Brazil, between November 10 and 21.