Drone Sector May Drive Indian Economy To $35 Tn By 2047: Amitabh Kant
The integration of drones within Industry 4.0 may drive India’s economy to USD 35 trillion by 2047, said Amitabh Kant, G20 Sherpa, while speaking at PHDCCI’s Bharat Drone Manthan in New Delhi.
Industry 4.0 is defined by automation and data interchange in manufacturing technology based on advanced sensors that give real-time data for precise mapping and environmental monitoring, while 5G connectivity allows for smooth communication and improves efficacy and application in fields ranging from agriculture to surveillance and disaster response.
According to him, the government has taken steps to support this growth through initiatives like the PLI scheme, fostering a thriving startup ecosystem in the drone economy.
The sector poses strong growth potential, with the annual sales turnover projected to rise from 60 crore in 2021 to around 500 crore in 2025, reaching approximately 1,500 crore in the next 2-3 years. However, the global market is expected to reach USD 55 billion by 2025 and USD 100 billion by 2030.
To capitalise on this growth, India aims to capture at least 10 per cent of the market share, aspiring to become a USD 10 billion economy in the drone sector.
Kant emphasised, “Drone manufacturers should adopt a very holistic approach encompassing rigorous testing, continuous monitoring and robust validation processes while developing production solutions. Integration of sensors and 5G in drones will revolutionise their capabilities. Drones equipped with advanced sensors and artificial intelligence will facilitate the collection and analysis of data.”
Kant also said that despite seeing a 300 per cent increase in growth and investment over the last three years, the sector remains at a low base.
"There is a need to encourage research and development, reward innovation and foster Indian intellectual property ownership, along with financing mechanisms to support all drone manufacturers, particularly startups and MSME companies working in the sector," Kant added.
Senior Economic Advisor at the Ministry of Civil Aviation, Piyush Srivastava said that we have fertile ground for the drone industry to expand, with an impressive number of startups and entrepreneurs fostering a culture of innovation and competition.
Srivastava also discussed the SVAMITVA scheme and the Drone Didi Initiative, the latter involving the distribution of 15,000 drones to women-led self-help groups.
Principal Advisor at the Ministry of Defence, Lieutenant General Vinod G Khandare (retd), said that the focus should not solely be on selling products but on building national capabilities and highlighted the significance of the drone industry in various sectors such as agriculture, transportation and aviation, especially in border areas and stressed the need to prioritise border development to ensure national security and prosperity.
In recent years, the drone industry in India has attracted significant investments from both domestic and international players.
