'announced a significant investment of Rs 100 crore for the development'

Mumbai, Jan 30 (PTI) Drone manufacturer Garuda Aerospace on Thursday announced a Rs 100 crore investment for the development of a 'Drone City' in Andhra Pradesh.

The proposed city, which will come up in Orvakal village of Kurnool district of Andhra Pradesh, would serve as a hub for drone innovation, fostering research, attracting top talent, and propelling India to the forefront of drone technology, Garuda Aerospace said in a statement.

The announcement came during a strategic meeting with the Minister of Civil Aviation, Rama Mohan Naidu Ji, it said adding during the meeting, Garuda Aerospace's founder and CEO Agnishwar Jayaprakash discussed the company's alignment with 'Viksit Bharat Sankalp Yatra' and its significance in national development and its ongoing contributions towards 'Namo Drone Didi' initiative, that empowers rural women through drone technology.

The conversation also discussed Garuda Aerospace's rapid expansion across India and global markets demonstrating the company's commitment in making India a global drone hub, it said.

"We envision the Drone City as a hub for drone innovation, fostering cutting-edge research, attracting top talent, and propelling India to the forefront of drone technology. This investment aligns perfectly with our vision of expanding our global footprint, pursuing an IPO, and continuing to develop innovative drone solutions that address critical societal challenges," said Jayaprakash.

Garuda Aerospace has already received six DGCA approvals including Type Certification and Remote Pilot Training Organisation (RPTO) approvals, it said. PTI IAS MR MR

Source: PTI