RattanIndia Enterprises: Budget announcement will boost the drone industry

2 Feb 2022 , 12:13 PM

RattanIndia Enterprises welcomed the announcement made by the Finance Minister Nirmala Sitharaman in FY 22-23 Budget speech for promoting the start-ups to facilitate the ‘Drone Shakti’ scheme through varied applications and for Drone-As-A-Service (DrAAS).

In a statement, RattanIndia said that this will help in the integration of aviation technology in the agriculture sector and will open immense opportunities and benefits to the entire agriculture and farm produce value chain and ecosystem.

Anjali Nashier, Business Chairperson RattanIndia Enterprises Ltd, said that “| thank the Government for a positive and evolving progressive policies introduced in Drone sector. This announcement will be a big boost to the sector. Large scale usage of “Kisan drones” in crop assessments, land records and spraying of insecticides will encourage drone industry and its growth.”

In her Budget speech, the FM announced that Agri- tech fund will be introduced through NABARD to promote the use of ‘Kisan Drones’ for crop assessment, digitization of land records, spraying of insecticides, and nutrients. This will also provide employment opportunities for youth, start-ups and will make Indian industries more efficient and competitive.

Notably, the government has been taking regular steps to support the Drone industry. In 2021, govt has introduced liberalised Drone Rules, immediately after that Production linked incentive scheme was announced, a few days later policy on agriculture drones, grants schemes for agriculture drones and insecticide types and their uses and standard operating procedures for spraying were declared and recently in January 2022, drone type certification policy was also announced.

Drone Industry acknowledges the continuity of the progressive actions and policies by govt which have given opportunities for the drone industry to flourish and grow. Drones are set to transform core sectors of the economy including logistics, agriculture, mining, infrastructure, surveillance, emergency response, transportation, geo-spatial mapping, defence, and law enforcement.

At around 12.12 pm, RattanIndia was trading at Rs54 per piece flat compared to the previous closing on Sensex.