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New Delhi, 6 September 2022: The drone and its components industry can significantly strengthen India's manufacturing potential to US$ 23 billion approximately by 2030, according to the latest EY - FICCI report titled, “Making India the drone hub of the world”. Additionally, strong action plans are needed to create a robust demand, boost manufacturing, attract investments and facilitate exports to make India the drone hub of the world by 2030, offering the most competitive and innovative manufacturing capabilities.
Further, the EY-FICCI report suggests a collaborative approach for ministries to synergize their efforts to ensure rapid progress along with encouraging startups and supporting organizations, for the industry to scale up. The report also elaborates on how drones are increasingly finding potential to be employed in multiple use cases across infrastructure, retail, agriculture, homeland security, and many other sectors.
Speaking at the launch of the report, Akshya Singhal, Consulting Partner - Government and Public Sector, EY India said, “Given the parameters of the Aatmanirbhar Bharat Abhiyan, a strong case exists for India to emerge as a global powerhouse in drones, as a tremendous demand for drones and drone-as-a-service gets created. The drone value chain spans manufacturing and value-added service components, impacting a large spectrum of industries and end-users. Via our report, we recommend critical steps required to capture 25% of the global drone market share through exports from India.”
Ankit Mehta, Co-chair of the FICCI Committee on drones, said, “Making India a drone manufacturing power would contribute to the country’s target of a US$ 5 trillion economy with a larger focus on the Make in India opportunity, and once delivered, its success will contribute to national prosperity across multiple sectors. A strong case exists for a symbiotic relationship between the government and industry to realize our vision to make India the drone hub of the world by the year 2030. This report explores how the government, in conjunction with the industry, could realize that vision and we hope that it will offer important and useful insights for all stakeholders.”
Key highlights of the report
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EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
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