Author: Himanshu Srivastava, Baker TIlly ASA India.
This article examines India’s strategic initiative to develop domestic manufacturing of Rare Earth Permanent Magnets (REPMs)—critical components for electric vehicles, wind turbines, and defense equipment. It analyzes how the government’s ₹7,280 crore scheme addresses India’s heavy import dependency, outlines the policy’s performance-linked incentive structure, and explains why building integrated REPM manufacturing capacity represents a crucial step toward supply chain resilience, energy transition goals, and reducing geopolitical vulnerability in advanced technology sectors.
Published on – Infrastructure Today
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