Startups and Youth Advance the Drone Sector: Piyush Goyal

Shri Piyush Goyal Ji, Hon’ble Minister, Ministry of Commerce & Industry appreciates startups and Youth for Advancing the Drone Sector, Highlights PLI scheme's role in kick-starting the growth of the sector

Shri Piyush Goyal Ji, Hon’ble Minister, Ministry of Commerce & Industry  praised the drone sector for its self-reliance and technological advancements, and said that very few nations have achieved this, while speaking on the second day of the International Innovation Conclave 1.0, held at The Leela Palace Chanakyapuri, New Delhi. Organized by PHDCCI in association with AVPL International, NSDC, and COSAMB, the event highlighted the transformative potential of innovation in Drone sector.

The Hon’ble Minister further appreciated the contributions of startups and youth to the sector and emphasized that the purpose of the PLI scheme is to kickstart the sector without making it dependent on the government.

Recalling the inauguration of Bharat Mandapam by PM Modi via drone, he highlighted the sector’s potential and assured regulatory and banking support from the government through EODB, banking facilities, and startup financing.

The Hon’ble Minister mentioned that drones could advance the agricultural sector, increasing productivity and quality, thereby benefiting farmers. He also suggested involving SIDBI for mentoring startups and providing financial access.

Further, he pointed out that IPOs would facilitate speedy growth for startups, and informed that last year saw 17 startup IPOs, and this year there have been 18 additional public offerings so far. Appreciating Hon’ble PM Modi for promoting investment over the last 10 years, he informed that the stock market has grown four times. Further emphasizing infrastructure’s importance, he explained that numerous sectors benefit from linking with infrastructure, creating a virtuous cycle of growth in which India is progressing.

 The Hon’ble Minister also highlighted India’s demographic dividend and said that its young population would further drive growth as the country at present growing at 7-8%. He mentioned that multiple FTAs and bilateral trade agreements reflect the world’s eagerness to work with India.

In this third term of the government, we  promise to work with triple the speed and efficiency to make India the world’s third-largest economy and the recommendations from today’s event would ensure further proliferation of the sector while reducing farmers’ expenditures, concluded The Hon’ble Minister

Shri Deepak Singhal Ji, Former Chief Secretary, UP  while speaking about PM Modi’s vision of Viksit Bharat@2047 said that technology and startups will play a major role in achieving this vision. He informed the The Hon’ble Minister about the event, which was attended by representatives from 10 countries and 5 states.

He discussed that the use of technology has increased productivity by almost 1.5 times, mentioning that the industry is valued at 3.2 billion dollar he expressed hope that India would become a major part of it. He further discussed on the formation of an international drone alliance through this event, with participation from 10 countries and said various components like pilot training, software, and regulatory mechanisms were also discussed at the conclave.

Mr. Singhal further discussed that drones would increase productivity and quality without replacing labor and emphasized the importance of rural economic zones and requested interdepartmental coordination from the minister.

The vote of thanks was provided by Shri Deep Sihag Sisai, MD & Co Founder AVPL International

The Conclave was sponsored by AVPL International and was supported by PHDCCI annual sponsors, DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd;  Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram;  R E Rogers; Trident Group; Ajit Industries Pvt Ltd;  Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.;  Hindware Sanitary; Jindal Steel;  Modern Automobiles;  P S BEDI & Co.

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