PLI Scheme is kickstarter but not permanent for drones: Goyal

The Production-Linked Incentive (PLI) Scheme for drones and drone components is a kickstarter for the sector to progress, so it should not be considered as a permanent subsidy scheme from the government, Minister of Commerce & Industry Piyush Goyal said.

During his address at the International Innovation Conclave organized by the PHD Chamber of Commerce & Industry (PHDCCI) in New Delhi, he said that the government is ready to promote the drone industry that has seen rapid growth in the last three years, according to an official press release.

Praising the development of technology and growth in the drone industry, he asserted that development of the drone ecosystem and deploying them in villages across the nation aligns with the Prime Minister Narendra Modi’s ‘NAMO Drone Didi’ initiative that will help empower the women in the agriculture sector.

Goyal said that technological progress in the drone industry will help combat erratic weather patterns and assist farmers in getting higher quality and higher quantity yields. “In the third term of the PM’s administration, we will work at triple the speed, ensure three times the result, and hope to become the third largest economy in the world,” said the Minister.

He further stated that drones have the ability to contribute to the cooperative sector, self-help groups (SHGs) and to farmers producer organizations (FPOs) as a shared facility.

On the startup ecosystem, the Minister said that 18 initial public offerings (IPOs) in the first half of 2024 and 17 IPOs in 2023. Under the guidance of PM Modi, the country has seen windfall investments from foreign investors. Also, there has been a massive push for infrastructure. He further stated that easing of regulations and compliance burden on startups along with enabling ease of doing business (EoDB) have been the government’s primary focus.

Goyal also stated that infrastructure growth has a multiplier effect on the economy.