Piyush Goyal Talks About Drone PLI Scheme and Future Growth at Innovation Conclave

Union Minister Piyush Goyal emphasized that the Production-Linked Incentive (PLI) Scheme for drones is a temporary measure to boost the industry, not a permanent subsidy. Speaking at the International Innovation Conclave organized by the PHD Chamber of Commerce & Industry (PHDCCI) in New Delhi, he highlighted the benefits of drones in agriculture and their role in empowering women through the ‘NAMO Drone Didi’ initiative.

Goyal noted that technological progress in the drone industry will help farmers get higher quality crops and increase yields. He pointed out that drones can combat erratic weather patterns and contribute to the cooperative sector, Self-Help Groups (SHGs), and Farmers Producer Organizations (FPOs) by reducing wastage and expenses.

The minister mentioned that the Small Industries Development Bank of India (SIDBI) could be involved in financing and mentoring the drone ecosystem. He also discussed the positive impact of infrastructure growth and regulatory easing on the economy and startups, noting that 18 Initial Public Offerings (IPOs) were offered in the first half of 2024, following 17 IPOs in 2023.

Goyal added that under PM Modi’s leadership, the country has seen significant foreign investments and a push for infrastructure, which has led to increased demand for goods and services, higher consumption, and job creation, putting the nation on a virtuous cycle of growth.