Govt bans import of foreign manufactured drones with immediate effect
The government has banned import of foreign manufactured drones except for those required for defence, security and R&D purposes.
The decision has been taken with a view to promote local manufacturing under Make in India scheme. Import of drone components however will be permitted as earlier and will not require any approvals.
The Directorate General of Foreign Trade issued a notification in this regard on Wednesday and the rule will come in immediate effect.
Last September, the Union Cabinet cleared a production-linked incentive (PLI) scheme to make India a drone hub by 2030.
The PLI scheme provides up to 20 per cent incentive to manufacturers of drones and drone components. It came close on the heels of the recent liberalisation of rules, which has made owning and operating drones easier.
The government allocated Rs 120 crore for the scheme and it will be spread over three years. This amount is nearly double the combined turnover of all domestic drone manufacturers in FY21, the ministry of civil aviation had said in a press release. Manufacturers will get an incentive of up to 20 per cent on the value addition made by them.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
© 2022, Admin. All rights reserved.