Adani JV among 14 firms under beneficiaries of PLI scheme for drone manufacturing

  • The ministry invited applications from eligible manufacturers on March 10, 2022 and the last date for submission was March 31

Livemint
Updated20 Apr 2022, 08:07 PM IST
The PLI scheme for drones and drone components was notified on 30th September 2021
The PLI scheme for drones and drone components was notified on 30th September 2021(Photo: iStock)

The Ministry of Civil Aviation (MoCA) has released the first provisional list of 14 beneficiaries under the Production-Linked Incentive (PLI) Scheme for drone and drone components. These include five drone manufacturers and nine drone component manufacturers. 

The ministry invited applications from eligible manufacturers on 10th March 2022 and the last date for submission was 31st March, 2022.

Adani's joint venture (JV) company with Israeli firm Elbit as well as IdeaForge Technology are among the 14 drone companies that have been selected as beneficiaries of the PLI scheme to boost drone manufacturing in India, the aviation ministry said on Wednesday.

Under the PLI scheme that was announced last year, the incentive for a manufacturer of drones and drone components will be 20 per cent of the “value addition” made by the company during the next three years.

The value addition is 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.

Dhaksha Unmanned Systems, IdeaForge Technology, IoTechWorld Aviation, Omnipresent Robot Technologies and Raphe Mphibr are five drone manufacturers selected as beneficiaries, it mentioned.

Absolute Composites, Adani-Elbit Advanced Systems India, Adroitec Information Systems, Alpha Design Technologies, Inventgrid India, Paras Aerospace, SASMOS HET Technologies, ZMotion Autonomous Systems and Zuppa Geo Navigation Technologies are nine drone component manufacturers selected for the PLI scheme, it noted.

“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 release added.

"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," it mentioned.

The ministry said the eligibility criteria for the PLI scheme includes an annual sales turnover of 2 crore for drone companies and 50 lakh for drone components manufacturers; and value addition of over 40 per cent of sales turnover.

 

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First Published:20 Apr 2022, 08:07 PM IST
HomeNewsIndiaAdani JV among 14 firms under beneficiaries of PLI scheme for drone manufacturing

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