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REPM Scheme Boosts India’s Rare Earth Magnet Manufacturing Why in the News? The Union government has approved over ₹7,000 crore under the REPM scheme to build India’s first integrated domestic ecosystem for rare earth permanent magnets, reducing import dependence and strengthening strategic sectors like EVs, renewables and defence. This development comes as the government emphasizes …
Read MoreSyrma SGS to Set Up India’s Largest IT Hardware Manufacturing Unit in Andhra Pradesh Key Highlights: Company: Syrma SGS Technology Ltd. Project: Setting up India’s largest Printed Circuit Board (PCB) and IT hardware manufacturing facility. Location: Nadupuru, Tirupati district, Andhra Pradesh (potentially designated as an export processing zone). Investment: ₹18,000 crore. Area: 100 acres. Expected …
Read MoreNATIONAL MISSION TO BOOST MANUFACTURING SECTOR Syllabus: GS Paper -3 Industrial Policy, Infrastructure Growth & Development Why in the News? The Union Budget 2025-26 announced the launch of the National Manufacturing Mission (NMM) to revive and strengthen India’s manufacturing sector. With the goal of increasing its contribution to GDP and global output share, this mission …
Read MoreWhy in News ? US President Donald Trump announced 25% tariffs on imported automobiles and auto parts from April 5, 2025, raising concerns for India’s $7 billion auto component exports and impacting future growth potential in the North American market. Trump’s Tariff Decision and Its Implications US President Donald Trump announced 25% tariffs on imported …
Read MoreWhy in the news? The Ministry of Mines is developing a Production Linked Incentive (PLI) scheme to enhance the recycling of critical minerals in India. This initiative aims to stimulate domestic supply chains and address the lackluster response to recent auctions of critical mineral source: BS Key Points : The PLI scheme targets e-waste recycling …
Read MoreWhy in the news? India’s manufacturing sector growth eased in May for the second consecutive month but remained in expansion mode, with the HSBC India Manufacturing PMI falling from 58.8 in April to 57.5, signaling a slower but substantial improvement. Global sales surged to the strongest level in over 13 years, indicating robust demand, despite …
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