Morning Tidings

Tag: manufacturing

  • Piyush Goyal Visits Tesla’s Manufacturing Facility in California Says ‘Missed Elon Musk’s Magnetic Presence’

    Piyush Goyal Visits Tesla’s Manufacturing Facility in California Says ‘Missed Elon Musk’s Magnetic Presence’

    New Delhi, November 14: Commerce and Industry Minister Piyush Goyal has visited the manufacturing facility of US-based electric vehicle major Tesla at Fremont, California and said that the company would be doubling its auto components imports from India. The minister is in the US on a four-day visit. The world’s largest electric car producer Tesla Inc’s chief Elon Musk met Prime Minister Narendra Modi in June in New York and after the meeting Musk had said that he planned to visit India in 2024.

    “Visited @Tesla’s state of the art manufacturing facility at Fremont, California. Extremely delighted to see talented Indian engineers and finance professionals working at Senior positions and contributing to Tesla’s remarkable journey to transform mobility. “Also proud to see the growing importance of auto component suppliers from India in the Tesla EV supply chain. It is on its way to double its components imports from India. Missed Mr @ElonMusk’s magnetic presence and I wish him a speedy recovery,” Goyal said on social networking platform X. The platform is also owned by Musk. Union Minister Piyush Goyal Unveils Initiatives to Enhance Opportunities in Indian Music Industry

    The visit assumes significance as there are reports that India is looking at giving customs duty concessions to Tesla for setting up a plant in the country. In September, Goyal said the company is looking to source components worth around USD 1.9 billion from India this year against USD 1 billion in 2022. Going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. Earlier, the government had stated that it is not looking to frame a separate policy for providing incentives to Tesla, and the company can apply to avail support measures under existing schemes like PLI for auto and advanced chemistry cells.

    The government has rolled out the production-linked incentives (PLI) schemes (PLI) for advanced chemistry cell (ACC) battery storage with an outlay of Rs 18,100 crore and Rs 26,058 crore PLI scheme for auto, auto-components and drone industries. When asked whether the government is considering duty concessions on completely built-up units to attract certain sections of electric cars into India, Goyal in September had said that “everything we have done has been done equally without any differentiation, without any preferences. This is the government which provides equal opportunity to everybody. So we will come out with a policy”. Union Minister Piyush Goyal Bolsters India-Saudi Arabia Partnership in Food, Pharma Sectors

    Goyal Visits Tesla’s Manufacturing Facility

    In August 2021, Musk had said Tesla might set up a manufacturing unit in India if it first succeeded with imported vehicles in the country. He had said Tesla wanted to launch its vehicles in India “but import duties are the highest in the world by far of any large country!”. Currently, India imposes 100 per cent import duty on fully imported cars with CIF (Cost, Insurance and Freight) value more than USD 40,000 and 70 per cent on those costing less than the amount.

    (This is an unedited and auto-generated story from Syndicated News feed, Morning Tidings Staff may not have modified or edited the content body)

  • Good News for OnePlus Users! Reliance Jio Partners With Smartphone Manufacturing Firm To Bring ‘True 5G’ Technology Ecosystem to India; Check Benefits

    Good News for OnePlus Users! Reliance Jio Partners With Smartphone Manufacturing Firm To Bring ‘True 5G’ Technology Ecosystem to India; Check Benefits

    New Delhi, Dec 12: Reliance Jio on Monday collaborated with global technology brand OnePlus to bring in the evolutionary stand-alone 5G technology ecosystem in the country.

    As part of the collaboration, all the OnePlus 5G devices will be powered by Jio ‘True 5G’ technology. India Set to Become World’s Global Cloud Computing and Data Centre Hub.

    The Jio and OnePlus teams have been actively working together at the backend to make 5G technology more accessible to the consumers and continue to expand their 5G technology services across the product portfolio.

    “The real power of a 5G smartphone can only be unleashed by a True 5G network like Jio, that is built as a Standalone 5G network, the most advanced network of its kind. Jio True 5G will enable hundreds of new and powerful experiences that can be experienced on a leading device like OnePlus,” said Sunil Dutt, President, Reliance Jio Infocomm Ltd. Airtel, Meta Join Hands To Accelerate India’s Digital Ecosystem; To Bring 2Africa Pearls, World’s Longest Subsea Cable System, Here.

    OnePlus devices with access to the Jio True 5G network include the latest OnePlus 10 Series, OnePlus 9R, OnePlus 8 Series as well as the Nord, Nord 2T, Nord 2, Nord CE, Nord CE 2 and Nord CE 2 Lite.

    Similarly, OnePlus 9 Pro, OnePlus 9 and OnePlus 9RT will also have access to the Jio True 5G network shortly, said the company.

    “With 5G technology, users will enjoy a truly seamless, speedy internet experience, while achieving a lot more from their daily use of smartphones than they could possibly imagine,” said Navnit Nakra, OnePlus India CEO and Head of India region.

    Consumers can get cashback benefits worth Rs 10,800 which will be provided for eligible OnePlus and Jio 5G users during the OnePlus anniversary sale period from December 13-December 18.

    OnePlus led the 5G smartphone market in the affordable premium segment (Rs 30,000-Rs 45,000) as well as Rs 20,000-Rs 30,000 price segment in India.

  • Apple Plans To Shift Manufacturing to India, Vietnam in Wake of China Unrest Over Zero-COVID Policy

    Apple Plans To Shift Manufacturing to India, Vietnam in Wake of China Unrest Over Zero-COVID Policy

    New Delhi, December 4:  Apple is fast forwarding its manufacturing plans in India and Vietnam in the wake of China unrest over zero-Covid policy which has severely disrupted its supply chain, leading to an acute shortage of new iPhone 14 Pro models.

    The Wall Street Journal reported that the company is “telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly India and Vietnam” in order to “reduce dependence on Taiwanese assemblers led by Foxconn”.  Apple iPhone 15 Series May Come With Design Cues Borrowed From MacBook, Details Inside.

    The China upheaval, which hit its key supplier Foxconn’s Zhengzhou factory last month resulting in violent protests, means “Apple no longer feels comfortable having so much of its business tied up in one place,” the report said, citing analysts and people in the Apple supply chain.

    Apple aims to ship 40-45 per cent of iPhones from India compared with a single-digit percentage currently, according to famed analyst Ming-chi Kuo. Kuo has predicted that iPhone shipments in the fourth quarter this year are likely to reach around 70 million to 75 million units, nearly 10 million less than market projections before the China turmoil.

    The top-of-the-line iPhone 14 Pro and Pro Max models have particularly been hit hard, according to him. Every fourth iPhone will be made in India by 2025, according to J.P. Morgan. In a fillip to India’s thrust on local manufacturing, Apple earlier this year kicked off the production of new iPhone 14 in India, a first for the tech giant as it narrows down the manufacturing period of new iPhones in the country to cut dependence on China.

    Buoyed by the ease-of-doing business and friendly local manufacturing policies, Apple’s ‘Make in India’ iPhones will potentially account for close to 85 per cent of its total iPhone production for the country this year, according to industry experts. China Anti-Lockdown Protest: Angry Protesters Turn Streets Into Warzones in Guangzhou As They Continue To Defy Xi Jinping’s Zero-COVID Policy (Watch Video).

    The import of iPhones to India is likely to come down to 15 per cent this year (from 50 per cent in 2019), while domestic manufacturing by the Cupertino-based tech giant is set to go up substantially to 85 per cent, according to market intelligence firm CyberMedia Research (CMR).

    With the iPhone 14 series, Apple’s iPhone production in India is slated to jump from 7 million iPhones in 2021 to touch a new milestone of around 12-13 million iPhones in 2022. As per CMR, the contribution of domestic iPhone manufacturing in India jumped from 50 per cent in 2019 to 73 per cent in 2021.

    In the meantime, the percentage of imported iPhones to India decreased from 50 per cent in 2019 to 45 per cent in 2020, 27 per cent in 2021 and around 15 per cent this year — showing a significant make in India’s boom for Apple.

    Apple first started manufacturing iPhones in India in 2017, with iPhone SE. The tech giant manufactures some of its most advanced iPhones in the country, including iPhone 11, iPhone 12 and iPhone 13 at the Foxconn facility while iPhone SE and iPhone 12 are being assembled at the Wistron factory in the country.

    (The above story first appeared on Morning Tidings on Dec 04, 2022 11:41 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • Apple CEO Tim Cook Ignores Questions on Protests Affecting iPhone Manufacturing Companies in China

    Apple CEO Tim Cook Ignores Questions on Protests Affecting iPhone Manufacturing Companies in China

    Washington, Dec 2: Apple CEO Tim Cook has ignored questions on violent protests in China which have hampered iPhone production at its key suppliers’ factories in the country.

    Fox Business asked Cook several questions as he arrived on Capitol Hill in Washington, DC, to meet lawmakers late on Thursday. Elon Musk Meets Apple CEO Tim Cook; Says ‘Misunderstanding’ About Twitter Being Removed From App Store ‘Resolved’ (Video).

    Cook refused to comment on whether he supported the Chinese people’s right to protest and his thoughts on the factory workers beaten by authorities.

    The Apple CEO also remained silent on whether he stood by his company’s business dealings with the Chinese Communist Party.

    Cook was in Washington to meet with Republican leaders this week, as the House Judiciary Committee will look into antitrust issues related to the App Store.

    The AirDrop feature allows users to share content between Apple devices. The tool was used widely during Hong Kong’s 2019 pro-democracy protests.

    Earlier this month, an update to Apple iOS included an additional AirDrop feature applying only to iPhones sold in mainland China. Chinese Vice Premier Sun Chunlan Calls for Optimizing COVID-19 Response After Nationwide Anti-Lockdown Protests.

    Under the update, iPhones can now only set their AirDrop to receive messages from “everyone” for 10 minutes before switching off.

    The other settings allow for file-sharing between “contacts only” or “receiving off.”

    Amid Covid-related protests in China, Apple is facing growing iPhone shortages.

    According to reports, the company has seen $165 billion in market value erosion since last week on concerns of weak holiday sales.

    Apple’s iPhone 14 Pro models’ shipments may reportedly drop by 20 million in the fourth quarter (Q4).

    According to Apple analyst Ming-Chi Kuo, the shipments of iPhone 14 Pro and iPhone 14 Pro Max models will be between 15 million and 20 million units lower than expected.

    Last week, workers at Apple’s largest supplier Foxconn’s factory in China clashed with the security forces and company officials amid protests over late bonus payments during Covid lockdowns.

    (The above story first appeared on Morning Tidings on Dec 02, 2022 11:28 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • Samsung Reportedly Planning To Close Its LCD Panel Manufacturing Soon

    Seoul: South Korean tech giant Samsung is reportedly planning to close down its last liquid-crystal displays (LCD) production lines. The decision to close the LCD business, by Samsung Display, will be completed by June of 2022 as the company faces tough competition from its Chinese and Taiwanese counterparts, reports GizmoChina. Samsung Galaxy M13 With Triple Rear Cameras Launched; Prices, Features & Specifications.

    The company has decided to focus on manufacturing organic light-emitting diode (OLED) and quantum dot (QD) displays, as OLED panels have started to become the norm in the smartphone market. That being said, the main reason for the shutting down of LCD panel production is the reduced profits in the venture, as per the report.

    A recent Display Supply Chain Consultants (DSCC) revealed that the price of an LCD is 36.6 per cent of what it used to be in January 2014, the component’s peak production period.

    No investment plan details have since been announced, and the employees of the LCD business are expected to be transferred to the QD business, the report said. Samsung Display had decided to close its LCD business in late 2020, but the plans were delayed at Samsung Electronics’ request due to a sudden increase in the prices of LCD panels during the Covid-19 pandemic.

    (The above story first appeared on Morning Tidings on May 31, 2022 10:23 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • True Wireless Earbuds Manufacturing in India Reaches 14% in 1 Year: Report

    New Delhi: As Indian brands dominated the true wireless earbuds (TWS) market once again, local production of these devices reached 14% in the January-March quarter (Q1) with 113 per cent (on-quarter) growth, a new report showed on Thursday. The domestic production of TWS products was almost negligible in Q1 last year, reports Counterpoint Research. Google Pixel 7 Pro, Pixel 7 & Pixel Watch Revealed at Google I/O 2022; Pixel Buds Pro Launched.

    “There has been a growing emphasis on domestic manufacturing, which led to an overall YoY decline of 19 per cent in average selling price (ASP) in Q1 2022,” said senior research analyst Anshika Jain. “We expect brands to go aggressive in the second half of this year to introduce made-in-India devices,” she added.” Other top players like Noise and realme are also expected to release locally-made devices within the first half of 2022,” said Jain.

    Dometci brand boAt is expected to locally manufacture more than half of its total portfolio in the coming period. India’s TWS market posted 66 per cent YoY growth in Q1 2022, driven by the strong value proposition offered by local brands to outshine the Chinese vendors.

    Besides, aggressive celebrity endorsements and domestic manufacturing helped boost the demand in this segment, said the report. Indian brands’ shipments more than doubled in Q1 2022 to capture 72 per cent share in the overall TWS market.

    “The top four positions were taken by India-based brands, which captured more than half of the total TWS market. Indian brands were very quick in terms of upgrading their product portfolio,” Jain informed.

    boAt led the market with a 34 per cent share, while Noise captured the second spot for the second consecutive quarter. The premium segment (more than Rs 5,000 or $65) registered 53 per cent YoY growth in Q1 led by Apple, Samsung and Sony, the report mentioned.

    (The above story first appeared on Morning Tidings on May 12, 2022 05:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • Reliance-Backed Addverb Technologies Setting Up New Robot Manufacturing Facility in India

    New Delhi, April 12: Leading homegrown robotics company Addverb Technologies on Tuesday announced to set up the world’s largest manufacturing facility in Noida, as Reliance Industries Limited (RIL) pumped $132 million in the company recently.

    Spread over 60,000 sq metres, the new plant will create highly-skilled job opportunities and lead to direct and indirect employment for over 3,000 people. Ten times bigger than the current manufacturing facility called Bot-Valley in Noida, the new factory will position the company as the largest manufacturer of robots in the world and will provide capacity for new growth opportunities, the company said in a statement.

    “This brand-new facility will make Addverb a giant robot manufacturer on global fronts, by delivering cutting edge software and robust hardware systems, along with a mix of innovative fixed and flexible automation solutions,” said Sangeet Kumar, Founder and CEO, Addverb Technologies. Reliance Industries Sets Up Free EV Charging Infrastructure for Employees in Mumbai.

    The announcement comes on the heels of Reliance Industries Ltd (RIL) investing up to $132 million in the company to enable Addverb set up the biggest robotic manufacturing facility at a single location.

    The facility will be able to manufacture up to 60,000 robots per year of different specifications and categories. It will be designed in such a way that the manufacturing capacity can be scaled up to 10 times in order to build only a particular type of robot.

    This will complement Bot-Valley, Addverb’s existing assembly manufacturing facility based out of Noida. According to a recent study the global warehouse robotics market size is expected to grow from $4.7 billion in 2021 to $9.1 billion by 2026.

    Addverb has provided warehouse automation solutions to companies across the spectrum, including Unilever, Reliance, Flipkart, Amazon, PepsiCo, Coca-Cola, Marico, Dabur, ITC and Patanjali, among others.

    In February, Addverb Tuesday announced expansion plans for the US market, with appointing Mark Messina as CEO for its US operations. Prior to RIL’s investment, Addverb raised around $11 million in Series A and Pre-Series funding, led by Jalaj Dani, co-promoter of Asian Paints, taking its total funding close to $143 million since its inception in 2016.

    (The above story first appeared on Morning Tidings on Apr 12, 2022 04:13 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • Apple Confirms Manufacturing Top-Selling iPhone 13 in India

    New Delhi: In a major fillip to India’s dream to become a global manufacturing hub, Apple on Monday confirmed it has started manufacturing its top-selling iPhone 13 smartphone in India. Apple first started manufacturing iPhones in India in 2017, with iPhone SE. Apple Reveals Upcoming Dual-Port 35W USB-C Charger.

    “We are excited to begin making iPhone 13 — with its beautiful design, advanced camera systems for stunning photos and videos, and the incredible performance of the A15 Bionic chip — right here in India for our local customers,” Apple said in a statement shared with IANS.

    The tech giant manufactures some of its most advanced iPhones in the country, including iPhone 11, iPhone 12 and now iPhone 13 at the Foxconn facility while iPhone SE and iPhone 12 are being assembled at the Wistron factory in the country.

    According to industry experts, the new Apple iPhone 13 series has benefitted from the strong consumer appetite and spend to upgrade to premium smartphones. In the first quarter this year, CyberMedia Research (CMR) estimates point to Apple iPhone shipments potentially growingA more than 20 per cent (on-year), with the iPhone 13 series contributing close to 17 per cent of the total iPhone shipments.

    “The Apple iPhone shipments will potentially touch the 7 million mark in CY2022, translating into a historic 5.5 per cent market share,” Prabhu Ram, Head-Industry Intelligence Group (IIG), CMR, told IANS.

    iPhone 13 was available to customers in India simultaneously with the US, among other markets which was a first for the country. The device features an advanced 5G experience, brings super-fast performance and power efficiency with A15 Bionic, longer battery life, and a beautiful flat-edge design with incredible durability with the Ceramic Shield front cover, tougher than any smartphone glass.

    iPhone uses 100 per cent recycled rare earth elements in all magnets, 100 per cent recycled tin in the solder of the main logic board and, for the first time, in the solder of the battery management unit. Apple started its India journey more than 20 years ago. The tech giant launched its India online store in September 2020 and will soon open its own retail store in the country.

    “With growing domestic Apple iPhone production, aggressive retail forays, and marketing initiatives, we anticipate Apple’s growth story in India to remain resilient despite potential headwinds,” Ram told IANS.

    (The above story first appeared on Morning Tidings on Apr 11, 2022 08:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • HP Starts Local Manufacturing of Laptops, Multiple PC Products in India

    New Delhi: PC and printer major HP Inc on Wednesday said it has started local manufacturing of multiple PC products including laptops in India, as the government renews its thrust on the ‘make in India’ initiative. The company has begun manufacturing multiple models of laptops, desktop towers, mini desktops at the Flex facility in Sriperumbudur near Chennai, Tamil Nadu. HP Projection Launches BP5000, a World-First 4K Projection TV, Featuring a Liquid-Cooling System That Runs Completely Silent.

    HP is also manufacturing display monitors in India. Some of these products qualify under public procurement order of the government and will be available on the Government e-Marketplace (GeM) portal to meet the demands of the government departments and other customers, according to the company.

    “We will be expanding our portfolio in manufacturing across multiple products within India in order to make sure that we play a meaningful role in building the country as a global manufacturing hub,” Ketan Patel, Managing Director, HP India Market, told IANS.

    “We have been working with the Central and state governments in the mission to empower the lives of millions of citizens and enhance the community’s quality of life. This announcement will further solidify our commitment to India,” he added.

    HP Inc maintained its lead in the overall PC category in India, as it reported the third consecutive quarter (Q3) with over a million shipments in the country. It led both commercial and consumer segments with a 28.5 per cent share in the overall PC category, according to the IDC.

    This is the first time HP is manufacturing such a wide range of laptops in India, with products such as HP EliteBooks, HP ProBooks and HP G8 series notebooks. The company has also expanded its locally-manufactured commercial desktops by adding various models of desktop mini towers (MT), mini desktops (DM), small form factor (SFF) desktops and a range of All-in-One PCs.

    These products have both Intel and AMD processor options and cater to a wide range of customer segments. HP partnered with Flex to manufacture commercial desktops in the country from August 2020.

    “The last one year of significant growth is a great testimony of the fact that computing is powering hybrid work, hybrid learning and hybrid playing. Computing is now becoming mainstream and this is a very good indicator to expand our footprint,” Patel emphasised.

    (The above story first appeared on Morning Tidings on Dec 22, 2021 01:51 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).

  • Drone Manufacturing Industry Expected To Generate Over 10,000 Direct Jobs, Likely to be Rs 900 Cr Industry by FY 2023-24, Says Jyotiraditya Scindia

    New Delhi, September 16: Taking another step towards realising our collective vision of an Aatmanirbhar Bharat, the Central Government under the leadership of Prime Minister Shri Narendra Modi has approved the Production-Linked Incentive (PLI) scheme for drones and drone components on September 15, 2021. Jyotiraditya Scindia, Union Minister of Civil Aviation, apprised the media about the important features of the PLI Scheme in a press conference today.

    Scindia said that under the PLI scheme, incentives of Rs. 120 crore will be given in the next 3 years. This amount is 1.5 times the combined size of the manufacturing drone sector. Over a period of three years, an estimated investment worth Rs 5,000 Crore for manufacturing sector drones will be done which in turn will bring a turnover of Rs 900 crore, and 10,000 job opportunities will be created. Draft Drone Rules 2021 Released By Ministry of Civil Aviation Inviting Public Comments Till August 5.

    Scindia further added that our objective is to establish India as a global drone hub by 2030 and the Ministry of Civil Aviation is committed to facilitating industry, service delivery, and consumers in achieving the aforesaid target.

    Top 15 Features of the PLI Scheme for Drones, 2021

    1. The total amount allocated for the PLI scheme for drones and drone components is INR 120 crore spread over three financial years.  This amount is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21.
    2. The incentive for a manufacturer of drones and drone components shall be as high as 20% of the value addition made by her.
    3. The value addition shall be calculated as the annual sales revenue from drones and drone components (net of GST) minus the purchase cost (net of GST) of drone and drone components.
    4. The Government has agreed to keep the PLI rate constant at 20% for all three years, an exceptional treatment given only to the drone industry.  In PLI schemes for other sectors, the PLI rate reduces every year.
    5. The proposed tenure of the PLI scheme is three years starting in FY 2021-22.  The PLI scheme will be extended or redrafted after studying its impact in consultation with the industry.
    6. The Government has agreed to fix the minimum value addition norm at 40% of net sales for drones and drone components instead of 50%, another exceptional treatment given to the drone industry.  This will allow widening the number of beneficiaries.
    7. The PLI scheme covers a wide variety of drone components:
      1. Airframe, propulsion systems(engine and electric), power systems, batteries and associated components, launch and recovery systems;
      2. Inertial Measurement Unit, Inertial Navigation System, flight control module, ground control station and associated components;
      3. Communications systems (radiofrequency, transponders, satellite-based etc.)
      4. Cameras, sensors, spraying systems and related payload etc.;
      5. ‘Detect and Avoid’ system, emergency recovery system, trackers etc. and other components critical for safety and security.
    8. The list of eligible components may be expanded by the Government from time to time, as drone technology evolves.
    9. The Government has agreed to widen the coverage of the incentive scheme to include developers of drone-related IT products also.
    10. The Government has kept the eligibility norm for MSME and startups in terms of annual sales turnover at a nominal level – INR 2 cr (for drones) and INR 50 lakhs (for drone components).  This will allow widening the number of beneficiaries.
    11. Eligibility norm for non-MSME companies in terms of annual sales turnover has been kept at INR 4 crore (for drones) and INR 1 crore (for drone components).
    12. The incentive payable to a manufacturer of drones and drone components shall be simply one-fifth of her value addition
    13. PLI for a manufacturer shall be capped at 25% of the total annual outlay. This will allow widening the number of beneficiaries.
    14. In case a manufacturer fails to meet the threshold for the eligible value addition for a particular financial year, she will be allowed to claim the lost incentive in the subsequent year if she makes up the shortfall in the subsequent year.
    15. The estimated payout schedule is as shown below:

    Drones offer tremendous benefits to almost all sectors of the economy.  These include– agriculture, mining, infrastructure, surveillance, emergency response, transportation, geo-spatial mapping, defense, and law enforcement to name a few.  Drones can be significant creators of employment and economic growth due to their reach, versatility, and ease of use, especially in India’s remote and inaccessible areas. PLI Scheme for Auto Sector and Drone Industries: PM Narendra Modi Govt Approves Rs 26,000 Crore To Boost Production.

    Given its traditional strengths in innovation, information technology, frugal engineering and its huge domestic demand, India has the potential of becoming a global drone hub by 2030. The PLI scheme comes as a follow-through of the liberalisedDrone Rules, 2021 released by the Central Government on 25 August 2021.  The PLI scheme and new drone rules are intended to catalyse super-normal growth in the upcoming drone sector.

    Likely Impact of recent Drone Initiatives

    Thanks to the new rules and the incentive scheme, the drones and drone components manufacturing industry may see an investment of over INR 5,000 crore over the next three years.  The annual sales turnover of the drone manufacturing industry may grow from INR 60 crore in 2020-21 fold to over INR 900 crore in FY 2023-24.  The drone manufacturing industry is expected to generate over 10,000 direct jobs over the next three years.

    The drone services industry (operations, logistics, data processing, traffic management etc.) is far bigger in scale.  It is expected to grow to over INR 30,000 crore in the next three years. The drone services industry is expected to generate over five lakh jobs in three years.

    (The above story first appeared on Morning Tidings on Sep 16, 2021 05:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).