HomeBusinessCabinet Clears Production Linked Incentive Scheme For Drone Makers

Cabinet Clears Production Linked Incentive Scheme For Drone Makers

Cabinet Clears Production Linked Incentive Scheme For Drone Makers

Union Cabinet has cleared a manufacturing linked incentive scheme for drone producers

The Union Cabinet on Wednesday cleared a manufacturing linked incentive (PLI) scheme for drones and drone elements, underneath which an funding of round Rs 5,000 crore within the subsequent three years is anticipated. Over the subsequent three years, Rs 120 crore can be given underneath the scheme to producers.

Also producers of drones and drone elements can be incentivised by 20 per cent of the worth addition made by them.

Minister for Information and Broadcasting Anurag Thakur advised media individuals after the Cabinet assembly that the scheme can even encourage start-ups that are concerned in manufacturing of drones and on the identical time can even assist in producing 10,000 direct jobs within the sector.

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

The eligibility criterion for micro small and medium enterprise (MSME) startups when it comes to annual gross sales turnover has been stored at Rs 2 crore for drones and Rs 50 lakh for drone elements.

The eligibility norm for non-MSME firms when it comes to annual gross sales turnover has been stored at Rs 4 crore for drones and Rs 1 crore for drone elements.

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