A MEETING BETWEEN officials of Google's parent Alphabet and Tamil Nadu Chief Minister M.K. Stalin came as a shot in the arm for Indian drone manufacturers. Reports suggest that the tech giant is planning to set up a factory in the southern state to manufacture drones.
The Indian government's efforts to give the industry a boost appear to be bearing fruit. In 2021, the government announced a subsidy of ₹120 crore under the ProductionLinked Incentive (PLI) scheme for the manufacturers of drones and their components. Then, in the Interim Budget 2024-25 presented earlier this year, Union Finance Minister Nirmala Sitharaman increased the outlay for the sector under the PLI scheme to ₹57 crore from ₹33 crore the previous year.
This story is from the July 07, 2024 edition of Business Today India.
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This story is from the July 07, 2024 edition of Business Today India.
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