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Drone components: Adani JV, IdeaForge among 14 firms selected as beneficiaries of PLI scheme

A PLI scheme for drones and drone components with an allocation of INR 120 cr. spread over three financial years was announced by the Ministry on 16 September 2021

To boost manufacturing of drones and drone components in India Adani’s joint venture company with Israeli firm Elbit as well as IdeaForge Technology are among the 14 companies that have been selected as beneficiaries of the production-linked incentive (PLI) scheme, the aviation ministry said on Wednesday. The incentive for a manufacturer of drones and drone components, under the PLI scheme that was announced last year, will be 20 per cent of the value addition made by the company during the next three years.

The value addition is calculated as the annual sales revenue from drones and drone components (net of GST) minus the purchase cost (net of GST) of drone and drone components. Names of 14 drone companies selected as beneficiaries of the PLI scheme were released by the Ministry on Wednesday.

Five drone manufacturers selected as beneficiaries include Dhaksha Unmanned Systems, IdeaForge Technology, IoTechWorld Aviation, Omnipresent Robot Technologies and Raphe Mphibr, it mentioned. Nine manufacturers of drone components selected for the PLI scheme include 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.

Applications from the drone industry for the PLI scheme were invited on 10 March by the Ministry of Civil Aviation. A PLI scheme for drones and drone components with an allocation of INR 120 cr. spread over three financial years was announced by the Ministry on 16 September 2021. The ministry said on Wednesday, “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 June 30 after detailed scrutiny of their financial results and other specified documents”, it mentioned.

The Ministry said an annual sales turnover of INR 2 cr. for drone companies and INR 50 lakh for manufacturers of drone components and value addition of over 40 per cent of sales turnover is the eligibility criteria for the PLI scheme. The PLI scheme came in September 2021 as a follow-through of the liberalised Drone Rules, 2021, released by the ministry on 25 August 2021.

Aviation Minister Jyotiraditya Scindia had on 16 September 2021 said, as the government has given a major boost to the sector with the PLI scheme, the Indian drone industry will have a total turnover of up to INR 15,000 cr. by 2026.

Also readCIO News interviews Shri Wangki Lowang, Minister (IT) of Arunachal Pradesh

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khushbu
Khushbu Sonihttps://www.cionews.co.in
Chief Editor - CIO News | Founder & CEO - Mercadeo

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