The Ministry of Heavy Industries has extended the bid submission deadline for a global tender to select manufacturers under the scheme to promote manufacturing of sintered rare?earth permanent magnet (REPM) for the third time, giving prospective bidders two more weeks to submit proposals. A ministry statement said the bid due date has moved from July 29 to August 12 and that technical bids will be opened on August 13. The extension was intended to facilitate wider participation and provide additional time for stakeholders.

The tender was floated on March 20 with an original bid deadline of May 28 and was extended first to June 29 and then to July 29. Officials said the current adjustment aims to attract a broader range of domestic and international firms. The sequence of extensions reflects stakeholder requests for extra time to prepare complex proposals.

The tender seeks manufacturers that will establish an integrated value chain rather than firms that assemble magnets from imported inputs. It aims to develop capacity from neodymium?praseodymium oxide to finished permanent magnets and to reduce reliance on imports while strengthening supply resilience for strategic sectors. Building end?to?end manufacturing within India is intended to support localisation and technology deployment.

The programme forms part of a government scheme worth Rs 72.8 bn approved by the Union Cabinet in November 2025 and aims to create 6,000 t per annum of integrated REPM manufacturing capacity. The plan sets out incentives and allocations to support firms that commit to domestic investment and technology deployment. Policymakers framed the measure as a means to spur industrial capability and localisation of critical components.

REPMs are used in electric vehicles, wind turbines, consumer electronics, aerospace and defence equipment and are particularly important for electric vehicle motors because of their high magnetic strength and light weight. The government launched the scheme amid concerns over India’s dependence on imported rare?earth magnets, particularly from China, as demand rises from clean energy and mobility sectors. The deadline extension is intended to widen participation as authorities seek to build a domestic manufacturing ecosystem for these materials.