In a report by EY-FICCI, titled “Making India the drone hub of the world”, the federation has mentioned that the drone and drone components industry can significantly strengthen India’s manufacturing potential to $ 23 billion approximately by 2030.
Dare Ventures, the venture capital arm of Coromandel International has announced that it will invest in a differentiated drone startup Dhaksha Unmanned Systems Private Limited, according to a release by the company.
Dhaksha Unmanned Systems Private Limited plans to use this funding for talent acquisition, R&D and production scale-up, the release disclosed.
“Coromandel is delighted to support Dhaksha in its aim to create a transformational impact on the drone manufacturing industry in India,” said Director, Dare Ventures Ltd. and Managing Director, Coromandel, Sameer Goel.
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The release also stated that Dhaksha provides a complete range of Unmanned Aerial Systems (UAS) technology solutions for different applications covering agriculture, defence, surveillance and delivery, among others. In addition to having developed the capability to manufacture battery-operated drones, Dhaksha is the only company in India to manufacture petrol engine-based drones.
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Earlier this month, the Minister of State for Civil Aviation General V K Singh, while addressing a programme on Making India a Global Drone Hub organised by FICCI in Delhi, spoke about the government’s decision to liberalise the drone policy to give a fillip to those who want to manufacture or set up drone-related industries.
He said, now nearly 80 percent of the airspace is available for drone flying up. The minister also added that the government has also brought up a Production-Linked Incentive (PLI) scheme to promote the growth of drone manufacturing by private companies.
“We are excited to partner with Dare Ventures. I am confident this will help us create several milestones in the drone industry, deliver world-class drones, offer exceptional support to customers across India and make the company a frontrunner in realizing the government’s vision of making India a ‘Global Hub’ for Drones,” said Ramanathan Narayanan, Director and CEO of Dhaksha, while commenting on the investment made by Dare Ventures Limited.
In a report by EY-FICCI, titled “Making India the drone hub of the world”, the federation has mentioned that the drone and drone components industry can significantly strengthen India’s manufacturing potential to $ 23 billion approximately by 2030. The report also says that strong action plans are needed to create a robust demand, boost manufacturing, attract investments and facilitate exports.
