Indian Economy News

Drone service sector will provide one lakh jobs in 4-5 years: Scindia

  • IBEF
  • April 25, 2022

The drone service sector shows immense promise and will provide about one lakh jobs in the next four to five years, said Minister of Civil Aviation Mr. Jyotiraditya Scindia, addressing an event hosted by the Indo-American Chamber of Commerce (IACC).

"We put in place a productivity-linked incentive programme for the drone sector. A nascent industry of drone manufacturing - with a total revenue of Rs. 60 crore (US$ 7.85 million) - was granted an incentive of Rs. 120 crore (US$ 15.7 million) over the following three years," said the Minister.

The incentive for a maker of drones and drone components under the PLI scheme, which was announced last year, will be 20% of the value addition achieved by the company over the next three years.

The names of 14 drone firms that have been chosen as PLI beneficiaries have been revealed by the Ministry.

The annual sales revenue from drones and drone components (net of GST) is subtracted from the acquisition cost of drones and drone components (net of GST).

"We see a quick expansion of over Rs. 5,000 crore (US$ 654.13 million) in terms of investment into the drone manufacturing industry," said Mr. Scindia.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.