PLI scheme to attract Rs 5K cr for drone manufacturing: Minister - New Delhi News
by IANS
Updated Sep 16, 2021
According to Scindia, incentives worth Rs 120 crore will be given under the scheme in the next three years.
"This amount is 1.5 times the combined size of the drone manufacturing sector," he said during a press briefing here.
"Over a period of three years, an estimated investment worth Rs 5,000 crore for the drone manufacturing sector will be made which in turn will bring a turnover of Rs 900 crore, besides creating 10,000 job opportunities," he added.
Besides, Scindia also cited the Centre's objective to establish India as a global drone hub by 2030.
On Wednesday, the Centre had approved a PLI scheme which entails an incentive of up to 20 per cent of the value addition for manufacturing of drones and their components.
"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," the Centre had said in a communique on Wednesday.
As per the communique, the government has agreed to keep the PLI rate constant at 20 per cent for all three years, an exceptional treatment given only to the drone industry. In PLI schemes for other sectors, the PLI rate reduces every year.
Furthermore, the communique said the drone services industry is expected to grow to over Rs 30,000 crore in the next three years.
Related Articles
- Haylie Duff Religion What Religion is Haylie Duff? Is Haylie Duff a Christianity?
- Ashley Dupre Ethnicity, What is Ashley Dupre's Ethnicity?
- Alix Earle Ethnicity, What is Alix Earle's Ethnicity?
- Emma Myers Ethnicity, What is Emma Myers's Ethnicity?
- Heather Hemmens Ethnicity, What is Heather Hemmens's Ethnicity?
- Who are Jauan Jennings Parents? Meet Bennie Jennings and Angela Holman
- Mike McDaniel Religion What Religion is Mike McDaniel? Is Mike McDaniel a Christian?
- Mae Muller Ethnicity, What is Mae Muller's Ethnicity?
- Vicki Gunvalson Ethnicity, What is Vicki Gunvalson's Ethnicity?
- Who are Tanveer Sangha Parents? Meet Joga Sangha and Upjeet Singh