PLI scheme for drone production benefited 14 companies, including Adani-Elbit
The Civil Aviation Ministry announced on Wednesday that Adani-Elbit Advanced Systems India, Ideaforge Technology, and Dhaksha Unmanned Systems are among the 14 companies that have been selected as beneficiaries of the production-linked incentive (PLI) scheme launched to boost drone manufacturing in the country. Drone manufacturers included Io TechWorld Avigation, Omnipresent Robot Technologies, and Raphe Mphibr, while other companies included Absolute Composites, Adroitec Information Systems, Alpha Design Technologies, Inventgrid India, Paras Aerospace, SASMOS HET Technologies, ZMotion Autonomous Systems, and Zuppa Geo Navigation Technologies. On March 10, 2022, the ministry issued a call for applications from qualifying producers, with a deadline of March 31, 2022.
The tentative list of PLI recipients was compiled using the financial information provided by applicants for the ten-month period from April 2021 to January 2022. Because some additional manufacturers are anticipated to surpass the eligibility requirements for the whole financial year 2021-22, the list of beneficiaries is likely to grow. The final list of PLI recipients is likely to be provided by June 30, 2022, following a thorough examination of their financial records and other required papers, according to the statement. For drones and drone components, the PLI plan requires an annual sales revenue of Rs 2 crore for drone firms and Rs 50 lakh for drone component manufacturers, as well as value addition of above 40% of sales turnover.
On September 30, 2021, the PLI scheme for drones and drone components was announced. A total incentive of Rs 120 crore would be distributed over three financial years under the plan, which is approximately double the aggregate sales of all domestic drone manufacturers in FY 2020-21. The PLI rate is 20% of the value-added, which is among the highest rates among PLI schemes.
