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The Civil Aviation Ministry on Wednesday released the second provisional list of 23 beneficiaries under the Production-Linked Incentive (PLI) Scheme for drone and drone components. There were 12 companies shortlisted in drone manufacturing, and 11 firms in component manufacturing. Adani-Elbit, Garuda Aerospace, Throttle Aerospace Systems, and Absolute Composites were among the 23 shortlisted companies.
The 23 beneficiaries have crossed the eligibility criteria of the PLI scheme related to sales revenue and value addition in FY 2021-22.
The government had invited applications from eligible manufacturers from May 4, 2022, and the last date for submission was May 20. The provisional list of PLI beneficiaries is prepared based on the unaudited financial results for 2021-22 and other information.
As per the ministry statement, the 12 shortlisted drone manufacturers are – Aarav Unmanned Systems; Asteria Aerospace; Dhaksha Unmanned Systems; EndureAir Systems; Garuda Aerospace; Ideaforge Technology; IoTechWorld Avigation; Omnipresent Robot Technologies; Raphe Mphibr; Roter Precision Instruments; Sagar Defence Engineering; and Throttle Aerospace Systems.
The 11 shortlisted drone component manufacturers are – Absolute Composites; Adani-Elbit Advanced Systems India; Adroitec Information Systems; Alpha Design Technologies; Dynamake Engineering; Imaginarium Rapid; SASMOS HET Technologies; Servocontrols Aerospace India; Valdel Advanced Technologies; ZMotion Autonomous Systems; and Zuppa Geo Navigation Technologies.
The combined annual sales turnover of the mentioned companies has increased from ₹88 crore in FY 2020-21 to ₹319 crore (unaudited) in FY 2021-22, the ministry statement said.
Meanwhile, the eligibility criteria for the PLI scheme for drones and drone components include an annual sales turnover of ₹2 crore for drone companies and ₹50 lakh for drone components manufacturers; and value addition of over 40% of sales turnover.
Under the PLI scheme for drones and drone components, a total incentive of ₹120 crore is spread over three financial years which is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21. The PLI rate is 20% of the value addition which is one of the highest among other PLI schemes. A unique feature of the drone PLI scheme is that the manufacturers who fail to meet the value addition threshold in 2021-22 will be allowed to claim the lost incentive in the subsequent year if they make up the shortfall in 2022-23.
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