Drones to increase crop yields, reduce farmers expenses: Piyush Goyal

He pointed out that advancements in drone technology can help combat erratic weather patterns and assist farmers in achieving higher quality and quantity yields.

Union Minister of Commerce & Industry, Shri Piyush Goyal, addressed the International Innovation Conclave organized by the PHD Chamber of Commerce & Industry (PHDCCI) in New Delhi, where he emphasized the government's commitment to promoting the rapidly growing drone industry. Shri Goyal highlighted that Prime Minister Narendra Modi’s administration is keen on fostering technological advancements and innovation in this sector.

Shri Goyal praised the development and innovation in the drone industry, emphasizing that the expansion of the drone ecosystem and its deployment in villages align with the PM’s ‘NAMO Drone Didi’ initiative. This initiative aims to empower women in the agriculture sector by leveraging drone technology.

He pointed out that advancements in drone technology can help combat erratic weather patterns and assist farmers in achieving higher quality and quantity yields. The Production-Linked Incentive (PLI) Scheme for drones and drone components is seen as a catalyst for sectoral growth, rather than a permanent subsidy, according to the Minister. “In the third term of the PM’s administration, we will work at triple the speed, ensure three times the results, and aim to become the third-largest economy in the world,” said Shri Goyal.

Shri Goyal also emphasized the potential of drones to benefit the cooperative sector, Self-Help Groups (SHGs), and Farmers Producer Organizations (FPOs) by reducing fertilizer wastage and expenses. He suggested that SIDBI could be involved in financing and mentoring the drone ecosystem to further promote this sector.

Speaking on the startup ecosystem, the Minister noted that 18 Initial Public Offerings (IPOs) have been launched in the first half of 2024, following 17 IPOs in 2023. Under PM Modi's leadership, the country has attracted substantial foreign investments and seen significant infrastructure development. Easing regulations and reducing compliance burdens on startups have been key focuses of the government to enhance the Ease of Doing Business (EoDB).

Shri Goyal concluded by stating that infrastructure growth has a multiplier effect on the economy, driving demand for goods and services and boosting consumption. The Prime Minister's push for infrastructure development has fueled industry growth and job creation, setting the nation on a path of sustained economic expansion.