The Ministry of Civil Aviation (MoCA) has released the first provisional list of 14 beneficiaries under the Production-Linked Incentive (PLI) Scheme for Drones and Drone Components. These include five drone manufacturers and nine drone component manufacturers.
The ministry invited applications from eligible manufacturers on March 10, 2022 and the last date for submission was March 31, 2022.
Adani’s joint venture (JV) company with Israeli firm Elbit and IdeaForge Technology are among the 14 drone companies that have been selected as beneficiaries of the scheme. PLI Scheme To promote drone manufacturing in India, the Ministry of Aviation said on Wednesday.
Under the PLI scheme announced last year, incentives for a manufacturer of drone And the drone components will be 20 percent of the “value addition” made by the company during the next three years.
Value addition is calculated as the annual sales revenue (net of GST) from drones and drone components minus the purchase cost (net of GST) of drones and drone components.
It mentioned that Daksha Unmanned Systems, IdeaForge Technology, ioTechworld Aviation, Omnibus Robot Technologies and Rafe MFibre are the five drone manufacturers that have been selected as beneficiaries.
Absolute Composites, Adani-Elbit Advanced Systems India, Adroitec Information Systems, Alpha Design Technologies, InventGrid India, Paras Aerospace, SASMOS HET Technologies, ZMotion Autonomous Systems and Juppa Geo Navigation Technologies are the nine drone component manufacturers selected for the PLI scheme. .
“The list of beneficiaries is likely to expand further as some more manufacturers are likely to exceed the eligibility criteria for the entire financial year 2021-22,” the release said.
It mentioned, “The final list of PLI beneficiaries is expected to be released by June 30 after detailed scrutiny of their financial results and other specified documents.”
The ministry said that the eligibility criteria for the PLI scheme includes annual sales turnover of 2 crore more for drone companies 50 lakh to drone component manufacturers; and value addition of more than 40 percent of the sales turnover.