Rattanindia Enterprises welcomes Indian govt’s PLI scheme for drones
Rattanindia Enterprises said that it welcomes the production linked incentive scheme (PLI scheme) for the drones and drone components industry announced by the Indian government.
The PLI scheme is said to address the strategic, tactical, and operational uses of drone technology.
According to Rattanindia Enterprises, a product specific PLI scheme for drones with clear revenue targets and a focus on domestic value addition is vital for building capacity and making them key drivers of the growth strategy of India.
With the new drone scheme in India, drone services, including its operations, data processing, logistics, traffic management, and others, are likely to expand in the next three years to INR 30,000 crores and create more than five lakh jobs.
Last month, Rattanindia Enterprises made an undisclosed investment in US-based urban drone logistics platform Matternet. The company also announced a new fully-owned subsidiary to carry out its drones business in India.
Under the PLI scheme for drones, the incentive for drone manufacturers and manufacturers of drone components and related IT products are eligible for incentives of 20% of the value addition made by them.
The current PLI scheme for drones in India will be valid for the next three years and will be either extended or redrafted after assessing its impact in consultation with the industry.
Anjali Rattan Nashier — Business Chair, RattanIndia Enterprises said: “I thank the government for this Production Linked Incentive (PLI) scheme for drones industry. It will be a big boost to this sunrise sector which has the potential to transform almost all sectors of the economy.
“RattanIndia Enterprises has been at the forefront of this transformation and has made key investments in the drone sector.”