The Civil Aviation Ministry on Thursday invited applications for the Production Linked Incentive (PLI) scheme for drones and drone components. It said that the last date for submission of application form is May 20, 2022.
Ministry of Civil Aviation (MoCA) has invited applications for Thursday production linked incentive (PLI) scheme for those manufacturers drone and drone components, who have exceeded the PLI eligibility limit for the previous financial year (April 1, 2021 to March 31, 2022). The last date for submission of application form is 23.59 hours on 20th May.
According to a press release, the final list of PLI beneficiaries is expected to be released by June 30, 2022 after detailed scrutiny of their financial results and other specified documents.
Earlier on April 20, MoCA had published a provisional list of 14 PLI beneficiaries based on the financial results submitted by PLI applicants for a period of ten months (April 1, 2021 to January 31, 2022). These included five drone manufacturers and nine drone component manufacturers.
The eligibility criteria for PLI Scheme for Drones and Drone Components includes an annual sales turnover of Rs. 2 crore for drone companies and Rs. 50 lakh to drone component manufacturers; and value addition of more than 40 percent of the sales turnover.
The PLI scheme for drones and drone components was notified on September 30, 2021.
The total incentive amount under the scheme is Rs. 120 crore spread over three financial years which is almost double the combined business of all domestic drone manufacturers in FY 2020-21.
The PLI rate is 20 percent of the value addition which is highest among other PLI schemes.