India set to become global drone hub

Drone-As-A-Service

- By FY24, drone mfg sector to grow to Rs900 cr from Rs60 cr now

- Drone-as-a-service allows enterprises to avail various services from drone companies, without investing in drone hardware or software, pilots, and training programmes

Bengaluru: Indian government's move for creating a robust drone manufacturing ecosystem will help the country to be self-reliant in this particular technology space.

Welcoming the incentives announced under the Production Linked Incentive Scheme (PLI), companies operating in the space said many startups will be able to scale up due to these monetary incentives.

"PLI scheme will definitely boost development of drones in the country, which is one of the critical technologies India require for both industrial and military usages. We also expect that some export incentives will be provided to drone companies for creating employment and making India a hub of drone manufacturing in the world," Pankaj Akula, Chief Executive Officer of Paras Aerospace told Bizz Buzz. The company is part of Paras Defence and Space Technologies, which has recently been listed in the exchanges.

The company has qualified for the PLI scheme floated by the government and is working on various industrial and military drones for serving many sectors, he added.

As per government estimates, the drone manufacturing industry is likely to invest over Rs5,000 crore over the next three years and generate 10,000 direct jobs. By FY24, it estimates the turnover of the drone manufacturing industry to grow to Rs900 crore from Rs60 crore now. In the Union Budget, Finance Minister Nirmala Sitharaman said the government will encourage startups to facilitate drone-as-a-service (draas).

Drone-as-a-service allows enterprises to avail various services from drone companies, removing the need for them to invest in drone hardware or software, pilots, and training programmes. The drone services industry is expected to grow to over Rs30,000 crore in next three years and generate over five lakh jobs, according to the government.

"With strong parent like Paras Defence, we are on a very strong position to build all types of drones for both industrial and military uses. In the next decade, there will not be a single industry which doesn't use drones. Be it agriculture or health or industry, all will see varied use of drones. Post this crisis (Ukraine crisis), it is also important to have ownership over the drone technology for these kinds of situations," said Akula.

Last week, Indian government has notified the PLI scheme worth Rs120 crore spread over three financial years for manufacturing drones and drone components in the country and asked companies to apply for the same.

We also expect that some export incentives will be provided to drone companies for creating employment and making India a hub of drone manufacturing in the world

- Pankaj Akula, CEO, Paras Aerospace