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Sunday, June 4, 2023

Centre invites applications for drone PLI scheme

The Central government on Thursday invited applications from the drone industry for the sector’s production linked incentive (PLI) scheme.

The total incentive in the scheme is Rs 120 crore spread over three financial years, and the sum is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21.

Besides, the PLI rate is 20 per cent of the value addition.

“The value addition shall be calculated as the annual sales revenue from drones and drone components (net of GST) minus the purchase cost (net of GST) of drone and drone components,” an official communique said late on Thursday night.

“Minimum value addition norm at 40 per cent of net sales for drones and drone components instead of 50 per cent, an exceptional treatment for drones.”

Furthermore, it said that PLI for a manufacturer shall be capped at 25 per cent of total annual outlay.

“This will allow widening the number of beneficiaries.”

(The story has been published via a syndicated feed.)

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