The Ministry of Civil Aviation was adamant that India’s budding drone industry was well on track to become a $30 billion industry by 2030, even as the second tentative list of recipients under the government’s flagship Production Linked Incentive (PLI) plan was issued late Wednesday.
The number of PLI recipients and their sales turnover should both increase significantly the next year, according to Dubey.
Twelve drone manufacturers and eleven drone component manufacturers are included on the second list.
The list was created using unaudited financial statements and other relevant data for the fiscal years 2021–2022, including revenue by sales and value addition.
The qualifying requirements for the drone and drone component manufacturers' programme call for a value addition of more than 40% of their sales turnover and an annual sales turnover of Rs 2 crore for drone companies and Rs 50 lakh for makers of drone components.
The government also commended domestic start-ups for their perseverance in the face of setbacks brought on by pandemic-induced lockdowns and geopolitical threats that made it difficult to source vital parts like batteries, motors, and battle controllers.
Kudos to these young entrepreneurs who persevered in the face of numerous obstacles, said Dubey.
The best is yet to come for them!
The creation of indigenous intellectual property (IP) in this area needs to be encouraged in the future, according to Singh, in order to promote global innovation and safeguard the nation’s long-term interests.
The PLI plan for drones and drone parts, which was announced in September of last year, offers a total incentive of Rs 120 crore over three fiscal years, which is roughly twice the aggregate revenue of all domestic drone makers during the prior fiscal.
One of the highest PLI rates under the system is 20% of the value addition.
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