New Delhi: The government on Wednesday approved the incentive scheme (PLI) related to production for drones and drone components.
Together with the liberalized drone rules in the past, the airline expected the drone making to attract investment of more than RS 5,000 Crore in the next three years, producing more than 10,000 direct work for the next three years.
The ministry expects the annual sales turnover of the drone manufacturing industry to grow from Rs 60 Crore on 2020-21 to more than Rs 900 Crore at FY 2023-24.
The PLI scheme allocates Rs 120 Crore for drones and drone components spread across three years of finance – almost double the combined turnover of all domestic drone manufacturers at FY 2020-21.
Incentives for drone manufacturers and drone components will be 20% of the addition of values.
The PLI rate at 20% constant for the third year is extraordinary treatment given only for the drone industry.
In the PLI scheme for other sectors, the PLI level is reduced every year.
The government has maintained the norm of feasibility for MSMEs and startup in terms of annual sales turnover at Rs 2 Crore (for drones) and RS 50 Lakh (for drone components).
The norm of feasibility for non-MSME companies in terms of annual sales turnover has been stored at RS 4 Crore (for drones) and RS 1 Crore (for drone components).
The ownership of the proposed PLI scheme is three years starting from FY 2021-22.
The PLI scheme will be extended or rearranged after studying its impact in consultation with the industry.
“The government has agreed to improve the norm of the addition of a minimum value of 40% of clean sales for drones and drone components, not 50%, extraordinary treatment provided to the drone industry.
This will allow the widening of the number of beneficiaries,” the ministry said in a statement.
The pli scheme includes various components of drones: “Incentive debt to drone manufacturers and drone components must be only one-fifth of the addition Certain financial years, they will be permitted to claim incentives that are lost the following year if they form shortcomings the following year, “said a government statement.
Indo Wings Founder-CEO Paras Jain said: “This scheme will open more vertical for the use of drones …
Encourage to see government considerations for startup in the drone ecosystem, because they have maintained income requirements only Rs 2 Crores for MSMEs to utilize the PLIS.
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that will improve our domestic manufacturing capabilities and generating employment for millions.
It gives us great hope for the future of drones in India.
“the Cabinet Note Approved the PLI scheme of Rs 26,000 crore for Auto Sector