The Union Cabinet on Wednesday cleared a Production Incentive Program (PLI) for drones and drone components, which will invest around Rs 5,000 crore over the next three years. is expected. Over the next three years, Rs 120 crore will be handed over to manufacturers as part of the program.
Manufacturers of drones and drone components will also be incentivized up to 20% of the added value they generate.
Information and Broadcasting Minister Anurag Thakur told media after the Cabinet meeting that the program will also encourage start-ups involved in drone production and at the same time help generate 10,000 direct jobs in the area.
The annual turnover of the drone production industry is expected to increase from Rs 60 crore, which was recorded in 2020-21, to around Rs 900 crore by 2023-24.
The eligibility criterion for micro, small and medium enterprise (MSME) startups in terms of annual turnover has been maintained at Rs 2 crore for drones and Rs 50 lakh for drone components.
The eligibility standard for non-MSME companies in terms of annual turnover has been maintained at Rs 4 crore for drones and Rs 1 crore for drone components.