Aviation Ministry Invites Applications for PLI Scheme for Drones, Drone Components

The Ministry has reported that last date for submitting application form is May 20.

Aviation Ministry Invites Applications for PLI Scheme for Drones, Drone Components

Photo Credit: Reuters

The final list of PLI beneficiaries is expected to be released by June 30

Highlights
  • A provisional list of 14 PLI beneficiaries was published on April 20
  • The list included five drone manufacturers
  • The eligibility criteria include annual sales turnover of Rs. 2 crore

The Ministry of Civil Aviation on Thursday invited applications for Production Linked Incentive (PLI) scheme for drones and drone components. It said that the last date for submitting the application form is May 20, 2022.

The Ministry of Civil Aviation (MoCA) on Thursday has invited applications for the Production Linked Incentive (PLI) scheme for those manufacturers of drones and drone components, who have crossed the PLI eligibility threshold for the previous financial year (April 1, 2021, to March 31, 2022). The deadline for submitting the application form is 23.59 hours on May 20.

As per a press release, the final list of PLI beneficiaries is expected to be released by June 30, 2022 after detailed scrutiny of their financial results and other specified documents.

Earlier on April 20, the MoCA published a provisional list of 14 PLI beneficiaries based on the financial results submitted by the PLI applicants for the ten-month period (April 1, 2021, to January 31, 2022). These included five drone manufacturers and nine drone component manufacturers.

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 the value addition of over 40 percent of sales turnover.

The PLI scheme for drones and drone components was notified on September 30, 2021.

Under the scheme, a total incentive of Rs. 120 crore is spread over three financial year 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.


Should you buy a 4G or 5G budget phone? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Avatar: The Way of Water to Release in India in English, Hindi, Tamil, Telugu, Kannada, Malayalam
Doctor Strange in the Multiverse of Madness Review: Turbocharged and Underwhelming
Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2022. All rights reserved.