The Indian government is finalizing a Request for Proposal (RFP) for its Sintered Rare Earth Permanent Magnets manufacturing scheme, aiming to boost self-reliance and global competitiveness. Union Minister H D Kumaraswamy announced the scheme, which has a total outlay of Rs 7,280 crore, including sales-linked incentives and capital subsidies. The initiative, spanning seven years, seeks to establish integrated manufacturing facilities and encourages both domestic and international participation to contribute to India's growth.