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PLI scheme for drones only to kickstart industry, not permanent subsidy: Piyush Goyal
Technological progress of the drone industry through the PLI scheme will help farmers get higher quality and yield of crops, Union Minister Piyush Goyal said.
The Production-Linked Incentive (PLI) Scheme for drones and drone components is only to kickstart the sector's progress and should not be considered as a permanent subsidy scheme by the government, ANI wrote, quoting Union Minister of commerce and industry, Piyush Goyal.
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Goyal's remarks came during his speech at the International Innovation Conclave, organised by the PHD Chamber of Commerce & Industry (PHDCCI) in New Delhi on Thursday.
Why is there a PLI scheme for drones?
Technological progress of the drone industry will help farmers get higher quality and higher yield of crops, Goyal said.
Goyal said that the development of the drone ecosystem and their deployment in villages across India is in line with the Prime Minister's 'NAMO Drone Didi' initiative that will help empower women in the agriculture sector.
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He also stated that drones can contribute to the cooperative sector, Self-Help Groups (SHGs) and to Farmers Producer Organisation (FPOs) as a shared facility with the help of agri-infra funds in reducing expenses of the farmers.
The Small Industries Development Bank of India (SIDBI) can be roped in to promote the sector by providing financing and mentoring services, he added.
What has the government done to promote the sector?
Goyal highlighted that ease of doing business (EoDB) has been a key focus of Prime Minister Modi's government, with easing of regulations and compliance burden on startups. He added that 18 Initial Public Offerings (IPOs) have already been offered in the first half of 2024 and 17 IPOs were offered in 2023.
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"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", Goyal said.
