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India's Union Cabinet has approved a ₹7,280-crore scheme to establish the country's first integrated manufacturing ecosystem for sintered Rare Earth Permanent Magnets, aiming for a production capacity of 6,000 metric tonnes per annum. The initiative seeks to reduce import dependence and support sectors like electric vehicles and renewable energy, with significant incentives and subsidies allocated over seven years. Additionally, the US Defense Security Cooperation Agency recently approved military sales to India, further enhancing its defense capabilities.