According to Aviation Minister Jyotiraditya Scindia, the drone service sector is extremely promising and will provide around one lakh of jobs over the next four to five years. “We have put in place a productivity-related program for the drone industry,” the minister said at an event hosted by the Indo-American Chamber of Commerce. “A fledgling drone manufacturing industry – with a total revenue of Rs 60 crore – has received an incentive of Rs 120 crore over the next three years” (IACC). The incentive for a maker of drones and drone components under the PLI plan, which was announced last year, will be 20% of the added value achieved by the company over the next three years.

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.

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 1,00,000 jobs over the next four to five years. This is an extremely promising area,” he added.

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.

Summary of news:

  • In 4 to 5 years, the drone service company will employ a million people
  • Check out all the news and articles from the latest business news updates.
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