Govt releases list of 14 beneficiaries under PLI scheme for drones
New Delhi [India], April 20 (ANI): The Ministry of Civil Aviation on Wednesday released the first provisional list of 14 beneficiaries under the Production-Linked Incentive (PLI) scheme for drone and drone components.
ANI
Apr 20, 2022 19:15 IST
New Delhi [India], April 20 (ANI): The Ministry of Civil Aviation on Wednesday released the first provisional list of 14 beneficiaries under the Production-Linked Incentive (PLI) scheme for drone and drone components.
Out of the 14 shortlisted companies, five are drone manufacturers and nine are drone component manufacturers.
Five shortlisted drone manufacturers include Dhaksha Unmanned Systems, Chennai, Tamil Nadu; Ideaforge Technology, Mumbai, Maharashtra; Io TechWorld Avigation, Gurugram, Haryana; Omnipresent Robot Technologies, Gurguram, Haryana and Raphe Mphibr, Noida, Uttar Pradesh.
Nine shortlisted drone components manufacturers include Absolute Composites, Bengaluru; Adani-Elbit Advanced Systems India, Hyderabad; Adroitec Information Systems, New Delhi; Alpha Design Technologies, Bengaluru; Inventgrid India, Sambalpur, Odisha; Paras Aerospace, Bengaluru; SASMOS HET Technologies, Bengaluru; ZMotion Autonomous Systems, Bengaluru and Zuppa Geo Navigation Technologies, Chennai.
The Ministry of Civil Aviation had invited applications from eligible manufacturers on 10th March 2022 and the last date for submission was 31st March 2022.
The provisional list of PLI beneficiaries has been prepared on the basis of the financial data submitted by applicants for the ten-month period - April 2021 till January 2022. The shortlisted beneficiaries have crossed the eligibility criteria related to sales revenue and value addition in the ten month period itself, the Ministry of Civil Aviation said in a statement.
"The list of beneficiaries is likely to be expanded further since some more manufacturers are likely to exceed the eligibility criteria for the full financial year 2021-22. The final list of PLI beneficiaries is expected to be released by 30th June 2022 after detailed scrutiny of their financial results and other specified documents," it said.
The eligibility criteria for the PLI scheme for drones and drone components includes an annual sales turnover of Rs 2 crore for drone companies and Rs 50 lakh for drone components manufacturers; and value addition of over 40 per cent of sales turnover.
The PLI scheme for drones and drone components was notified on 30th September 2021. Under the scheme, a total incentive of Rs 120 crore is spread over three financial year, which is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21.
The PLI rate is 20 per cent of the value addition which is one of the highest among other PLI scheme. A unique feature of drone PLI scheme is that the manufacturers who fail to meet the value addition threshold in 2021-22 will be allowed to claim the lost incentive in the subsequent year if they make up the shortfall in 2022-23. (ANI)
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