India’s burgeoning drone industry has captured the attention of many investors, emerging as an attractive long-term investment opportunity due to its rapid evolution, fast growth, and expanding applications. The Indian drone industry is poised for significant growth, driven by the development of globally competitive and technologically superior drones by Indian companies, creating immense export potential.
Prior to the Covid-19 pandemic, the drone industry was on a steady growth trajectory. However, the industry was accelerated by the increasing adoption of drones across diverse sectors and regulatory advancements that have facilitated drone usage.
GOVERNMENT SUPPORT AND FAVOURABLE REGULATORY ENVIRONMENT
Recognizing the immense potential of drones, the Indian government has adopted a proactive approach, enacting supportive policies and regulations to nurture the industry’s growth.
The National Drone Policy serves as a comprehensive framework for drone operations, ensuring adherence to safety, security, and privacy standards. Furthermore, the policy fosters innovation and entrepreneurship by streamlining the regulatory process for drone manufacturers and operators.
Additionally, the government has established dedicated drone corridors and testing facilities, creating a nurturing ecosystem for research, development, and innovation. These initiatives have catalyzed industry growth and provided the necessary support for the domestic drone industry, which is expected to witness accelerated expansion.
FINANCIAL PACKAGE FOR DRONE INDUSTRY
The Indian government has implemented several initiatives to support the growth of the drone industry:
• Drone Shakti Scheme
This story is from the December, 2023 edition of Beyond Market.
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This story is from the December, 2023 edition of Beyond Market.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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