Govt Invites Applications For Rs 120 Crore PLI Scheme For Drones And Drone Components Manufacturing

by Swarajya Staff - May 5, 2022 01:10 PM +05:30 IST
Govt Invites Applications For Rs 120 Crore PLI Scheme For Drones And Drone Components ManufacturingA drone (Marut Drones) File photo

The Ministry of Civil Aviation (MoCA) has opened the application window for those manufacturers of drones and drone components, who may have crossed the PLI eligibility threshold for the full financial year (1 April 2021 to 31 March 2022), an official release said on Thursday (5 May).

The deadline for submitting the application form is 23.59 hours on 20 May 2022.

The final list of PLI beneficiaries is expected to be released by 30 June 2022 after detailed scrutiny of their financial results and other specified documents, the Civil Aviation Ministry said in a release.

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

The eligibility criteria for the PLI scheme for drones and drone components includes an annual sales turnover of Rs 2 crore for drone companies and Rs 50 lakh for drone components manufacturers; and value addition of over 40 per cent of sales turnover, the ministry said.

The PLI scheme for drones and drone components was notified on 30 September 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 per cent of the value addition which is one of the highest among other PLI scheme, it added.

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