New Delhi : The Ministry of Heavy Industries has extended the timelines for the global tender issued under the Rare Earth Permanent Magnet (REPM) Scheme following requests from multiple stakeholders seeking additional time for participation in the bidding process.
According to the Ministry, responses to queries raised by bidders will now be issued on June 9, 2026. The last date for submission of bids has been extended from May 28, 2026 to June 29, 2026, while the opening of technical bids has been rescheduled from May 29, 2026 to June 30, 2026.
The Ministry stated that the extension is aimed at facilitating wider participation and providing stakeholders with additional time to prepare their bids. The addendum regarding the revised schedule has been uploaded on the Central Public Procurement Portal for information of all bidders and stakeholders.
The global tender was originally floated by the Ministry on March 20, 2026 for the selection of manufacturers as beneficiaries under the REPM Scheme to establish integrated rare earth permanent magnet manufacturing facilities in India.
The scheme was approved by the Union Cabinet chaired by Prime Minister Narendra Modi on November 26, 2025 with a financial outlay of ₹7,280 crore.
Described as a first-of-its-kind initiative, the scheme aims to establish a total manufacturing capacity of 6,000 metric tonnes per annum of integrated rare earth permanent magnets in the country. The initiative is intended to strengthen India’s self-reliance in critical technologies and position the country as a major player in the global REPM market.
Rare earth permanent magnets are among the world’s most powerful magnets and are extensively used in electric vehicles, wind turbines, advanced electronics, aerospace applications and defence systems.
The Ministry stated that the scheme seeks to build a complete domestic value chain ranging from Neodymium-Praseodymium (NdPr) oxide processing to the production of finished magnets, thereby reducing India’s dependence on imports in this strategically important sector.