Cupboard approves manufacturing linked incentive scheme for drone producers

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The Union Cupboard has authorized the Manufacturing Linked Incentive Scheme for Drone Producers.

The Union Cupboard on Wednesday authorized the Manufacturing Linked Incentive (PLI) scheme for drones and drone parts underneath which an funding of about Rs 5,000 crore is predicted over the subsequent three years. Below the scheme, Rs 120 crore will likely be given to the producers within the subsequent three years.

Additionally, producers of drones and drone parts will likely be given incentives as much as 20 per cent of the worth addition made by them.

Data and Broadcasting Minister Anurag Thakur advised media individuals after the cupboard assembly that the scheme would additionally encourage start-ups concerned within the manufacturing of drones and in addition assist in producing 10,000 direct jobs on this sector.

The annual turnover of the drone manufacturing trade is predicted to develop from Rs 60 crore, which was recorded in 2020-21, to round Rs 900 crore by 2023-24.

The eligibility standards for Micro, Small and Medium Enterprise (MSME) startups by way of annual gross sales turnover has been stored at Rs 2 crore for drones and Rs 50 lakh for drone parts.

The eligibility standards for non-MSME corporations by way of annual gross sales turnover has been stored at Rs 4 crore for drones and Rs 1 crore for drone parts.