Mumbai, June 27 -- The heavy industries ministry on Thursday extended the deadline to submit bids for the production-linked incentives (PLI) scheme to make rare earth magnets by a month to 29 July.
This is the second extension of the application deadline, which was first slated to end on 28 May and was later extended to 29 June.
The extension came after over half a dozen potential applicants requested for time, said two people in the know. So far, the scheme has received only four bids, the people said, compared with the ministry's plan to award benefits to five firms to achieve a slated annual production of 6,000 tonnes of magnets.
Published by HT Digital Content Services with permission from Hindustan Times....