New Delhi: Production-linked incentive (PLI) scheme will help the annual sales turnover from drone manufacturing to grow over Rs 900 crore in FY 2023-24 as compared to Rs 60 crore in 2020-21, Union Civil Aviation Minister Jyotiraditya Scindia said on Thursday.
Addressing a press conference, Union Civil Aviation Minister Jyotiraditya Scindia said, "Over a period of three years, estimated investment worth Rs 5,000 crore for manufacturing sector drones will be done which in turn will bring a turnover of Rs 900 crore, and 10,000 job opportunities will be created."
"The drone services industry is far bigger in scale. It is expected to grow to over Rs 30,000 crore in next three years. The drone services industry is expected to generate over five lakh jobs in three years," the minister added.
The Minister informed that the total amount allocated for the PLI scheme for drones and drone components is Rs 120 crore spread over three years. This is nearly double the combined sales turnover of all domestic drone manufacturers in FY 2020-21.
Also read: Jyotiraditya M. Scindia announces Rs 120 crore incentives for drone sector
Jyotiraditya Scindia said given its traditional strengths in innovation, informal technology, frugal engineering and its huge domestic demand, India has the potential to become a global drone hub by 2030.
"The PLI scheme comes as a follow-through of the liberalised Drone Rules, 2021 released by the government on 25 August. The PLI scheme and drone rules are intended to catalyze super-normal growth in the upcoming drone sector," he added.
