The Ministry of Civil Aviation on Thursday requested applications for a drone production Linked Incentive (PLI) program for aircraft and drone components. It said that the last date for the submission of the application form was January 20, 2022.
On Thursday, the Ministry of Civil Aviation (MoCA) has filed applications for the Production Linked Incentive (PLI) scheme for drones and drone components that have already exceeded the eligibility threshold for the previous financial year (April 1, 2021, to March 31, 2022). The deadline for filing the application is 23.59 hours.
Following an open disclosure, the final list of PLI beneficiaries is expected to be released by June 30, 2022.
On April 20, the MoCA published a supplemental list of 14 PLI beneficiaries based on the financial results submitted by the PLI applicants for the ten-month period (April 1, 2021, to January 31, 2022). These included five drone manufacturers and nine drone components.
The criteria for the PLI program for drones and drone components include a annual sales turnover of Rs. 2 crore for drone companies and Rs. 50 lakhs for drone components manufacturers, as well as the value addition of more than 40 percent of sales turnover.
The drone and drone components plan has been notified on September 30, 2021.
In the scheme, a total incentive of Rs. 120 crore is distributed over three financial years, doubling the total turnover of all domestic drone manufacturers in FY 2020-21.
The value addition rate of a PLI is 20 percent, the highest rate among other PLI schemes.