Business

RattanIndia Enterprises forays into drone business

RattanIndia Enterprises on Wednesday announced the launch of its drone business with its wholly-owned subsidiary NeoSky India Limited.

NeoSky India will develop a cutting edge drone system platform, focussing on industry applications in India, the company said in a statement.

The company recently made a strategic investment in the U.S.-based urban drone logistics. It has, however, not disclosed the investment amount.

Drone systems have a wide variety of commercial and industrial applications in segments such as logistics, agriculture, mining, infrastructure, surveillance, emergency response, transportation, among others.

“We are thrilled with the launch of our drones business in NeoSky. I am sure NeoSky will usher in a new era of aerial industry applications with its cutting edge drones platform,” said Anjali Rattan, Business Chairperson of RattanIndia Enterprises.

Drone systems will prove to be extremely transformative by providing cost-effective solutions for developing countries like India, the company said.

The government has recently announced liberalised Drone Rules, 2021, and production linked incentive (PLI) scheme for this emerging industry in the domestic market. The scheme is aimed at making India a global hub for drones.

The company had on Tuesday announced the appointment of Peeyush Kumar, a former CEO of Pixella - an India-based drone company, as the head of its drone business.


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Printable version | Oct 28, 2021 11:21:50 AM | https://www.thehindu.com/business/rattanindia-enterprises-forays-into-drone-business/article36610956.ece

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