DRONE ECOSYSTEM
Chorus grows for angel tax repeal; policy push for EVs
Startup Inc’s calls to do away with angel tax have found support from the government. This and more in today’s ETtech Top 5.
Production Linked Incentive scheme for drones to kickstart industry, not permanent subsidy: Piyush Goyal
Goyal noted that technological progress in the drone industry will help farmers in getting higher quality crops and will also help in increasing the yield of crops,
Drone industry seeks favourable policies, incentives, component ecosystem to push domestic manufacturing
Industry players at the Drone International Expo 2024 in Delhi called for improved policies and incentives to boost indigenisation in the Indian drone market, projected to reach USD 27 million revenue by 2024. Experts emphasised the need for a supportive ecosystem for domestic component manufacturing. Over 200 national and international manufacturers are showcasing innovations, highlighting advancements in surveillance for enhanced security measures against modern terrorist activities.
Rs 300 crore allocated by Defence Ministry to foster Make in India defence tech innovations
The Indian Ministry of Defence has sanctioned over Rs 300 crore through its Technology Development Fund (TDF) to create an ecosystem for enhancing capabilities in cutting-edge technology and promoting 'Aatmanirbharta' in defence. The TDF scheme, executed by DRDO under the 'Make in India' initiative, provides grants-in-aid to Indian industries, including MSMEs and startups, as well as academic and scientific institutions, for the development of defence and dual-use technologies.
Entry into renewables could be a natural extension for RattanIndia: Rajiv Rattan
Rajiv Rattan, Founder & Chairman of RattanIndia, discusses the company's potential expansion into renewables fueled by cash flow from the power business. Addressing past leverage issues, the company shows promise as a turnaround candidate.
Google to make Pixel in Tamil Nadu, confirms MK Stalin; drones coming up next?
Alphabet Inc., led by Sundar Pichai, will produce its flagship smartphones in Tamil Nadu, announced Chief Minister MK Stalin. Partnering with Foxconn, they plan to manufacture Pixel phones and potentially drones. This move aligns with Google's 2023 announcement to manufacture Pixel 8 smartphones in India, following Apple and Samsung's production shifts.
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Govt needs to further expand PLI scheme to make India 'Global Drone Hub': Report
As per the Ministry of Civil Aviation projections, the Indian drone manufacturing industry is expected to reach Rs 900 crore by 2025 from just Rs 60 crore in 2020-21, according to a study conducted by Nexgen Exhibitions. It also noted that the Indian drone market is expected to grow at 22.15 per cent CAGR (compounded annual growth rate) during the 2024-30 period.
ARTPARK: From legged robots to advanced cargo drones, a look at India's first robotics park
ARTPARK, India's pioneering AI and robotics hub established in 2020 within the Indian Institute of Science (IISc) campus, Bengaluru, aims to foster inclusivity and equitable access to technology. With a core focus on innovation, skilling, and industry collaboration, ARTPARK nurtures startups, supports research, and tackles societal challenges. Backed by substantial funding, it's a nexus for developing cutting-edge solutions and driving India's technological advancement.
Tech and innovation key to rural women empowerment, says Nirmala Sitharaman
In the past few years, Union Finance minister Nirmala Sitharaman said, women’s presence in labour force participation, in growing savings apart from just at the post-office, and in consumption of tech products to promote skills, had increased tremendously.
IG Drones & AASSC Launch Drone Skill Program, aims to Upskill 10milion youth
IG Drones partners with AASSC and NSDC to enhance drone technology skills nationwide.
Govt looking at differentiated regulatory framework for civilian, industrial use drones
The civil aviation ministry is considering a separate regulatory framework for civilian and industrial drones to promote indigenous development of the drone ecosystem. Civil Aviation Secretary Vumlunmang Vualnam emphasized efforts to advance air mobility. A Production-Linked Incentive Scheme for drones was successful, with Rs 120 crore allocated for Indian manufacturers.
Flying high: AI-powered drones that think on their own are pushing the innovation envelope for India
Drone manufacturing can be a $4.2 billion business in India and some startups are pushing the frontiers in this high-tech game. But is the ecosystem conducive enough for drone companies that aim to develop autonomous tech indigenously?
Iran’s better, stealthier drones are remaking global warfare
Iran's drone technology is reshaping global conflicts, with drones based on Iranian designs being used in various countries, including Sudan, Syria, and Ukraine. These drones, like the Zagel-3 based on Iran's Ababil model, are becoming increasingly sophisticated and are used by militias and militaries worldwide. Iran's drone industry, fueled by sanctions and innovative methods to circumvent them, is a key element of its military strategy, allowing it to project power and influence far beyond its borders.
Garuda Aerospace unveils border patrol surveillance drone
Garuda Aerospace, with MS Dhoni, launched Trishul drone for border patrol, setting new benchmarks for uninterrupted access to critical information and prompt decision-making in a sustainable drone ecosystem.
Newspace raises $52 mn, the largest equity raise for an Indian defence startup
Newspace Research & Technologies (NRT), a leading drone manufacturer in India's defence sector, has secured $52 million in a bridge round, marking a significant equity raise. The funding includes $33 million in equity from prominent investors and $19 million in debt facilities from SBI’s startup hub and SIDBI. NRT, specializing in swarm drone technology, collaborates with the Ministry of Defence and aims for global expansion, having demonstrated swarm drone operations in Japan.
Indian drone manufacturer IdeaForge enters US market
Indian drone manufacturer IdeaForge is entering the US market as the country shows reluctance to buy Chinese-made drones. IdeaForge CEO Ankit Mehta said the Indian drone industry has grown rapidly in the last decade, with the pandemic accelerating adoption and regulatory support. Mehta highlighted the unique capabilities of Indian drones, such as operating in extreme altitudes and temperatures.
What will it take for India's drone industry to fly higher?
India aims to be a major global hub for drones by 2030, boosting GDP by 1-1.5% and creating jobs. The industry has requested expansion of the PLI scheme, which benefits startups and MSMEs. The drone industry faces challenges such as the lack of a component ecosystem, talent pool, and testing facilities.
Budget speech mention of deeptech leaves industry wanting more
Industry participants, investors and founders alike, expressed enthusiasm for the potential scheme’s push to the deeptech startup ecosystem that has seen the likes of Ideaforge, Tonbo Imaging and PierSight – across stages of maturity that have defence-led applications.
Messe Stuttgart India partners with Startup India to boost ecosystem for logistics ventures
Global exhibitor Messe Stuttgart India is holding LogiMAT India exhibition at India Expo Mart, Delhi NCR, from February 28 to March 1. It is the satellite show of Europe's biggest intralogistics exhibition, LogiMAT Stuttgart, the statement said.
Top infrastructure, healthy startup ecosystem, better commute — the ways Bhubaneswar is winning the hearts of small businesses
The capital of Odisha, with its unique landscape and thriving startup ecosystem, is creating a supportive platform for small businesses to rise.
Navy Chief unveils first indigenously manufactured UAV from Adani Defence & Aerospace
Indian Navy Chief Admiral R Hari Kumar unveiled the Drishti 10 Starliner drones, manufactured by Adani Defence, at the company's Aerospace Park in Hyderabad. The drone is an advanced Intelligence, Surveillance, and Reconnaissance (ISR) platform with 36 hours of endurance and a 450 kg payload capacity.
Transforming the last mile: New delivery models, technology strengthen logistics in India
The year 2023 witnessed a quantum leap in the speed and customer experience realm, as same day and next day delivery models took centre stage, especially for Direct-to-Consumer (D2C) commerce companies.
Startup ecosystem: Why it's time to acknowledge and learn from challenges of 2023
Even though funding dropped in 2023, some of the larger companies with cash reserves were able to acquire struggling products and companies at reasonable prices
23 going on 24: Making sense of a chaotic yet colourful year for India's tech sector
From 15.4 billion downloaded games to 138.08 crore people covered by Aadhar, India's tech sector had an eventful 2023. ET takes a look at the top 23 moments from 2023.
Drone scheme for women SHGs in agriculture will boost industry, executives say
The government announced on Wednesday it has approved an outlay of Rs 1,261 crore for the period from 2024-25 to 2025-26 for the scheme.
Assam youths develop AI-driven traffic management platform for drones
Avgarde Systems Pvt Ltd (AVGARDE), cofounded by Manash Bhuyan and Nilutpal Choudhury in 2018, is a startup incubated at IISc Bangalore, and IIT Guwahati. It is a radio frequency and wireless technology-focused deeptech start-up building an AI-driven object sensing platform for low-altitude airspace management.
Kothari Industrial Corporation sets up a drone division to serve agricultural lands
Chennai-based Kothari Industrial Corporation Ltd (KICL) has established a drone division to deploy drone technology in farmlands. The company plans to invest over Rs 150 crore into the drone division over the next few years. KICL aims to revolutionize farming practices by utilizing advanced drone technology to distribute nano-urea in agricultural lands.
Going public: How Ranbir Kapoor and Aamir Khan-backed DroneAcharya made a stellar SME IPO debut
DroneAcharya share sale saw overwhelming interest from retail and HNI segments. For founder Prateek Srivastava, it was a validation of a strategy being successful and giving the company the visibility to grow further.
Air India aims to boost Indian cargo ecosystem, eyes 300% growth in 5 years
India's state-owned airline, Air India, has placed an order for 70 wide-body aircraft to bolster the country's cargo ecosystem and provide non-stop connections to key export markets globally. The order comprises 20 Boeing 787 Dreamliners, 10 Boeing 777Xs, six Airbus A350-900s and 34 Airbus A350-1000s.
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