“We set up a productivity-related scheme for the drone sector where a nascent drone manufacturing industry – which had a total revenue of Rs 60 crore – received an incentive of Rs 120 crore over the next three years. “said the minister. said in his speech at an event organized by the Indo-American Chamber of Commerce (IACC).
Under the PLI program announced last year, the incentive for a manufacturer of drones and drone components will be 20% of the value added achieved by the company over the next three years.
Value added is calculated as the annual revenue of drones and drone components (net of GST) minus the purchase cost (net of GST) of drones and drone components.
The ministry released the names of 14 drone companies selected as beneficiaries of the PLI scheme.
Scindia said on Friday, “We are looking at a rapid expansion of nearly Rs 5,000 crore in terms of investment in the drone manufacturing space.”
“The drone service industry…we are looking at creating 100,000 jobs over the next four to five years. It’s a hugely promising area,” he added.
India is experiencing rapid urbanization and 75% of our national income will come from cities by 2031, he said, adding that transport and logistics will play a pivotal role in deciding India’s destiny in the world. course of the next decade.
The country, he said, currently has around 140 airports and the government plans to increase them by 50% over the next four to five years.
The country will increase the size of its commercial fleet from the current 710 planes to 1,200 planes in the next five years, he said.
The government is also looking to rapidly expand its flight training organizations and will increase their number from 34 to 58 in the next few years, he said.
The global aircraft component industry is making leaps and bounds in India, he said.
Boeing is currently importing aircraft components worth $1 billion (one billion = 10,000 lakhs) from India and Airbus is currently importing aircraft components worth around $650 million from India. India, he said.