Govt approves Production Linked Incentive scheme for drones and drone components

Tags: Economy/Finance National News

The government has approved the Production Linked Incentive (PLI) scheme for drones and drone components for implementation during 2022-23 to 2024-25 with an outlay of 120 crore rupees on 2 December.

Important facts

• The scheme is being implemented by the Ministry of Civil Aviation.

• The objective of this scheme is to incentivize the manufacturing of drones and drone components in the country with a focus to make the indigenous' industries globally competitive.

• Support under the scheme will be provided only to companies engaged in the manufacturing of drones and drone components in India.

• As per the guidelines, the minimum annual sales turnover to claim the benefit of PLI should be Rs 2 crore for drones and Rs 50 lakh for single component segment for MSMEs and startups.

• Non-MSMEs must have an annual sales turnover of Rs 4 crore for drones and Rs 1 crore for components segment.

• Empowered Group of Secretaries chaired by the Cabinet Secretary will monitor the scheme.