Drone PLI Scheme
14 companies shortlisted for drone PLI scheme
New Delhi: The aviation ministry today said it has shortlisted 14 companies under the Production-Linked Incentive (PLI) Scheme for drone and drone components. The list includes Adani joint venture company with Israeli firm Elbit as well as IdeaForge Technology.
Altogether five drone manufacturers and nine drone component manufacturers have been approved as beneficiaries, the ministry of civil aviation said Wednesday.
The ministry invited applications from eligible manufacturers on 10th March 2022 and the last date for submission was 31st March 2022.
The eligibility criteria for the PLI scheme for drones and drone components include an annual sales turnover of Rs 2 crore for drone companies and Rs 50 lakhs for drone components manufacturers; and a value addition of over 40 percent of sales turnover.
The list of beneficiaries is likely to be expanded further since some more manufacturers are likely to exceed the eligibility criteria for the full financial year 2021-22.
The final list of PLI beneficiaries is expected to be released by 30th June 2022 after detailed scrutiny of their financial results and other specified documents.
Under the scheme, a total incentive of Rs 120 crore is spread over three financial years which is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21.
The PLI rate is 20 percent of the value addition which is one of the highest among other PLI schemes.
A unique feature of the drone PLI scheme is that the manufacturers who fail to meet the value addition threshold in 2021-22 will be allowed to claim the lost incentive in the subsequent year if they make up the shortfall in 2022-23.
Dhaksha Unmanned Systems, IdeaForge Technology, IoTechWorld Aviation, Omnipresent Robot Technologies, and Raphe Mphibr are five drone manufacturers selected as beneficiaries, it mentioned.
Absolute Composites, Adani-Elbit Advanced Systems India, Adroitec Information Systems, Alpha Design Technologies, Inventgrid India, Paras Aerospace, SASMOS HET Technologies, ZMotion Autonomous Systems, and Zuppa Geo Navigation Technologies are nine drone component manufacturers selected for the PLI scheme, it added.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
