RattanIndia Enterprises' Drone company TAS approved for PLI Scheme

7 Jul 2022 , 03:25 PM

RattanIndia Enterprise Ltd (REL) has announced that Throttle Aerospace Systems Private Limited (TAS) has been shortlisted for the PLI (Production Linked Incentive) scheme for Drones and Drone components by Govt. of India. Ministry of Civil Aviation (MoCA) made the announcement on the beneficiaries of the PLI scheme on the 6th of July’2022.

RattanIndia Enterprises Ltd (REL) had recently acquired majority of shareholding in India’s leading drone company Throttle Aerospace Systems Private Limited (TAS) through NeoSky India Limited, a wholly owned subsidiary of REL, the  company stated in a press release on Thursday.

The objective of this scheme is to incentivise domestic manufacturing of Unmanned Aerial Vehicles (UAVs) and UAV components in India in line with Govt. of India’s vision to make India a global drone hub. PLI scheme is aimed to make the industry self-sustaining and competitive across the globe.

Drones are a valuable component for multiple industries such as agriculture, infrastructure, emergency response and disaster relief, transportation, geospatial mapping and mapping for marketing purposes, media and entertainment, law enforcement and defence.

At around 3:20 PM, RattanIndia Enterprises was trading at Rs43.50 per share higher by 4.95% on the BSE.