India Extends Deadline for Rs 72.8 bn Rare‑Earth Magnet Scheme

The Indian government announced an extension of the deadline for its rare‑earth magnet initiative. The scheme is valued at roughly Rs 72.8 billion. It aims to develop domestic capacity for producing rare‑earth magnets. The original timeline had been set earlier this year. Extending the deadline gives firms more time to meet eligibility criteria. Officials said the move will support strategic technology goals. The extension is expected to attract investment in the sector. Stakeholders will now adjust project plans to align with the new schedule.