Cabinet Clears Production Linked Incentive Scheme For Drone Makers

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Union Cabinet has cleared a production linked incentive scheme for drone manufacturers

The Union Cabinet on Wednesday cleared a production linked incentive (PLI) scheme for drones and drone components, under which an investment of around Rs 5,000 crore in the next three years is expected. Over the next three years, Rs 120 crore will be given under the scheme to manufacturers.

Also manufacturers of drones and drone components will be incentivised by 20 per cent of the value addition made by them.

Minister for Information and Broadcasting Anurag Thakur told media persons after the Cabinet meeting that the scheme will also encourage start-ups which are involved in production of drones and at the same time will also help in generating 10,000 direct jobs in the sector.

The annual turnover of the drone production industry is expected to grow from Rs 60 crore, which was recorded in 2020-21, to around Rs 900 crore by 2023-24.

The eligibility criterion for micro small and medium enterprise (MSME) startups in terms of annual sales turnover has been kept at Rs 2 crore for drones and Rs 50 lakh for drone components.

The eligibility norm for non-MSME companies in terms of annual sales turnover has been kept at Rs 4 crore for drones and Rs 1 crore for drone components.

Author: desi123 is an online news portal that aims to provide the latest trendy news for Asians living in Asia and around the World.

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