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India Clears Rs 72.80 Bn Rare Earth Permanent Magnets scheme
Auto industry welcomes the scheme, which comprises a sales-linked incentives of Rs 64.50 billion on Rare Earth Permanent Magnets (REPM) sales for five years and capital subsidy of Rs 7.50 billion for setting up an aggregate of 6,000 MTPA of REPM manufacturing facilitiesRead more
Varroc Engineering’s PBT rises 54% in Q1 FY26 on strong auto components demand
Varroc Engineering posts Rs 20.3 bn revenue in Q1 FY26, PBT before exceptional and JV profit up 54% YoY to Rs 822 million, driven by robust India and overseas operations.Read more
China’s Rare Earth Elements Curb Jolts Indian Auto Sector into Action
While Rare Earth Elements (REE) based components are utilised in traditional ICE vehicles, the production of EVs is fundamentally reliant on them—without REEs, manufacturing an EV is virtually impossible, says CareEdge Ratings’ report.Read more
