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Drone industry wants PLI outlay raised to help more companies take off
Economic Times
·
1y ago
Medial
The drone industry in India is urging for an expansion and increase in the outlay of the production-linked incentive (PLI) scheme for drones. The industry wants more players to be able to apply for the scheme and for the overall funding to be raised. Currently, the scheme benefits startups and micro, small, and medium enterprises. The government has disbursed Rs 30 crore to beneficiaries under the scheme, which aims to promote indigenous drone manufacturing. The industry also advocates for service-linked incentives and checks to maintain quality standards.
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Related News
Centre Working On New PLI Scheme For Drone Sector
Inc42
·
10m ago
Medial
- New PLI scheme promises enhanced implementation and documentation - Drone sector categorized into civilian use, security/defence forces use, and unregulated use - Government introduced INR 120 Cr PLI scheme for drones in 2021 - PLI scheme has a three-year tenure starting from 2021-22 - Focus on streamlining and strengthening the drone industry - Aims to promote domestic manufacturing and augment job creation
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Amaravati to host drone summit this month
YourStory
·
9m ago
Medial
The civil aviation ministry and the Andhra Pradesh government have announced a two-day drone summit in Amaravati on October 22. The summit will bring together drone companies, foreign entities, and other stakeholders. Additionally, there will be a drone show featuring over 5,000 drones. More than 1,000 delegates have registered for the summit so far. The government is also working on a new Production-Linked Incentive (PLI) scheme for the drone sector, with input being sought from stakeholders. The previous PLI scheme for drones, introduced in 2021 with a budget of Rs 120 crore for three years, has ended.
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China drone maker EHang starts selling flying taxis on Taobao
Reuters
·
1y ago
Medial
Chinese drone maker EHang is now selling its EH216-S model flying taxi on Taobao for 2.39 million yuan ($332,060). EHang, which gained safety approval certification from China's aviation authority in October, is one of the leading companies in the electric vertical take-off and landing (eVTOL) vehicle market. This move further solidifies EHang's position in the emerging urban air mobility industry.
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VTOL Rudrastra Drone: Takes off like a copter, strikes like a jet
Economic Times
·
1m ago
Medial
The Indian Army has successfully tested the Rudrastra, a fully indigenous VTOL (Vertical Take-Off and Landing) drone developed by Solar Aerospace and Defence Limited. This drone, designed for precision strikes, can take off like a helicopter and fly like a jet, hitting targets over 50 kilometers away. During trials in Pokhran, Rudrastra covered over 170 km, remained airborne for 90 minutes, dropped an airburst munition, and returned safely, all autonomously.
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A New Era Is Dawning for India’s Drone Industry
StartupTalky
·
1y ago
Medial
India aims to become the world's leading drone manufacturer by 2030, with expectations to add 1.15% to the GDP and create 500,000 jobs. The government's Production Linked Incentive (PLI) program and liberalized drone regulations are driving the growth of the sector. However, challenges such as limited availability of necessary components and inadequate oversight are impeding expansion. The drone industry has numerous practical applications and has the potential to bring cost efficiencies and innovative solutions to various sectors, including retail, healthcare, logistics, and infrastructure monitoring.
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PLI Scheme: Reliance Selected For Setting Up 10 GWh ACC Battery Storage
Inc42
·
11m ago
Medial
Reliance Industries Limited has qualified for a budgetary outlay of up to INR 3,620 crore under the Production Linked Incentive (PLI) scheme for advanced chemistry cell (ACC) batteries. ACCs are essential for electric vehicles (EVs) as they store and supply electric energy. In the first round of bidding, Reliance New Energy, Ola Electric Mobility, and Rajesh Exports were chosen as winning companies, collectively receiving grants for a total capacity of 30 gigawatt-hours (GWh).
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Budget 2024: DPIIT wants angel tax, inverted duty to be removed this time
Business Today
·
1y ago
Medial
The Indian Department for Promotion of Industry and Internal Trade (DPIIT) has proposed the removal of the controversial Angel Tax for startups in the Union Budget 2024. The tax, imposed on unlisted companies that raise capital through share issuance above their fair market value, has been criticized for impeding capital formation and hindering foreign investments. The DPIIT has also recommended addressing the issue of visa regulations for startups operating in the 14 sectors covered by the Production Linked Incentive (PLI) scheme. The removal of the Angel Tax has been widely advocated by industry bodies like the Confederation of Indian Industry (CII) and Nasscom.
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PLI Scheme For Battery Recycling: A Cornerstone Opportunity For India’s Energy Security
Inc42
·
1y ago
Medial
The article discusses the need for a Production Linked Incentive (PLI) scheme for battery recycling in India. Battery recycling plays a crucial role in achieving eco-sustainability and resource circularity, as well as maximizing the economic benefits of clean technologies. PLI schemes have been successful in boosting the manufacturing sector and attracting foreign investment. Implementing a PLI scheme for battery recycling would incentivize companies to invest in capacity building, innovation, and resource efficiency. It would not only benefit the battery industry but also other sectors such as renewables, electric vehicles, consumer electronics, and more.
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Bracing for pressure: Phonemakers dread the day govt pulls plug on PLI
Economic Times
·
26d ago
Medial
The Indian mobile phone manufacturing industry faces challenges as the production-linked incentive (PLI) scheme ends next year, with the government non-committal on its extension. The conclusion of the PLI scheme could increase competition and pressure operating income and margins for Indian manufacturers who rely on incentives to offset higher costs. Industry executives anticipate increased emphasis on quality and workmanship, while companies like Dixon Technologies may experience reduced margins and increased working capital days without PLI benefits.
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Budget 2024: India’s deep-tech wants more patient capital
OutlookIndia
·
1y ago
Medial
India's deep tech industry is looking forward to Budget 2024, with hopes for more patient capital and sector-specific support initiatives. The government aims to promote deep tech as the focus of Startup India's second phase, with a focus on innovation and indigenous R&D capabilities. However, experts suggest that the lack of timely and substantial funding is hindering the sector's growth potential. They recommend exclusive schemes for deep tech, similar to the Production-Linked Incentive (PLI) schemes, and support for micro-VCs to drive investments at early stages. Additionally, there is a need for clear priorities and increased funding in specific areas within the deep tech sector.
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