India has added 34% more drone start-ups since new August guidelines
India has seen a surge in drone start-ups since August of last year. According to Tracxn data, the number of drone start-ups in India has surged by 34.4%. While India had 157 drone start-ups in August 2021, there were 211 drone start-ups on February 8th, 2022.
India outperformed both the US and Germany, who saw a 9.7% and 6.7% growth respectively during the same period.
The government has been working hard to establish an indigenous drone industry in the country. To support local production, the director-general of international commerce announced an immediate ban on the import of drones on February 9, 2022. The government has already stated that made-in-India drones should be preferred in the Drone Rules, which were released in August 2021. This latest announcement only strengthens the government's stance.
The ban comes after the government announced a Rs. 120 crore (US$ 15.95 million) production-linked incentive scheme for drone manufacturing, with the goal of generating Rs. 5,000 crore (US$ 664.73 million) in investment and 10,000 jobs in the sector.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.