The minister said the country is experiencing a windfall of investments from foreign investors and massive commitment to infrastructure development.
He reiterated that easing regulations, reducing the compliance burden on startups and enhancing the Ease of Doing Business (EoDB) are the government’s main focus.
The minister further said the government is ready to boost the drone industry, which has seen rapid growth over the past three years.
Commerce and Industry Minister Piyush Goyal said the government’s main focus is on deregulation and reducing the compliance burden on the startup ecosystem.
Speaking at a PHD Chamber of Commerce event, he said the country is seeing windfall investments from foreign investors and a massive push towards infrastructure development.
Goyal further said that 18 initial public offerings (IPOs) will be launched in the first half of 2024, following 17 IPOs in 2023. He reiterated that deregulation and reducing compliance burden on startups and improving Ease of Doing Business (EoDB) are the key focus of the government.
The drone market in India is booming with the emergence of a number of drone-related startups, attracting significant investor interest. The minister said the government is ready to promote the drone industry, which has seen rapid growth over the past three years.
He added that developing the drone ecosystem and deploying it in villages across the country is in line with Prime Minister Narendra Modi’s ‘NAMO Drone Didi’ initiative to support women empowerment in the agriculture sector.
Goyal further emphasised that technological advancements in the drone industry will help farmers deal with erratic weather patterns and achieve higher quality and higher yields. He added that drones can also help the cooperative sector, self-help groups (SHGs) and farmer producer organisations (FPOs) by delivering fertiliser with the help of the Agriculture Infrastructure Fund and act as a common facility to reduce wastage and expenses.
“In the third term of your government, we want to work three times faster and ensure three times the results so that we become the third largest economy in the world,” the minister said.
Since the liberalisation of drone policy by the Indian government, the UAV ecosystem has undergone positive changes with several impactful announcements.
These include the Cabinet’s approval of a Rs 1,200 crore PLI scheme, ban on drone imports to boost domestic manufacturing, introduction of safety and quality certification scheme, etc. Further, initiatives such as digital airspace mapping, Drone Shakti and Kisan Drone have been hailed as significant progress.
With the central government taking steps to strengthen the drone ecosystem with new schemes such as Drone Didi, we are expected to see greater participation from people across the ecosystem.
Drone technology in India is expanding rapidly, with over 200 drone tech startups established and over 13,000 drones registered across the country, reflecting a huge market opportunity. According to a report by Inc42, India’s drone market is expected to reach $13 billion By 2030, it will expand, recording a CAGR of 21% between 2022 and 2030.
In this context, many drone-related startups are aiming to grab a large share of the industry.
Yesterday, the logistics unicorn Delhivery The Ministry of Corporate Affairs (MCA) has given approval for the introduction of drones. subsidiary.
Last month, Blue Dart partnered with domestic drone manufacturer SkyAir to begin drone delivery. Idea Forge Expanded Employee Stock Option Plan Pool Size The company has introduced an ESOP plan that allocates 1,678 shares to employees.
