NEW DELHI, April 2 -- The ministry of heavy industries (MHI) will on 7 April hold a pre-bid consultation on the recently floated request for proposals (RFP) under its Rs.7,280-crore scheme to incentivise the production of rare earth magnets, which are critical components used in sectors such as electric vehicles, renewable energy, defence, electronics and aerospace.

The pre-bid meeting will happen at the India Habitat Centre in New Delhi, the ministry said in a statement on Thursday.

The pre-bid meeting will provide the stakeholders, including domestic and international industry players and prospective bidders, an opportunity to gain a clear understanding of the scheme's guidelines, eligibility criteria, and implementation framework and...