NEW DELHI, May 15 -- The Union heavy industries ministry has extended by a month the bid submission deadline for its Rs.7,280 crore incentive scheme to set up five rare earth magnet manufacturing plants in India, following requests from interested companies for more time.

Under the revised timeline, bids can now be submitted until 29 June, according to a ministry statement issued on Friday.

"The Bid Due Date has been extended from 28.05.2026 to 29.06.2026, while the opening of Technical Bids has been rescheduled from 29.05.2026 to 30.06.2026 to facilitate wider participation and provide additional time for stakeholder in bidding process," the statement said.

The scheme to promote manufacturing of rare earth permanent magnets was approv...