The government-backed Agri Infra Fund (AIF) has facilitated loans for small businesses and individuals to buy agri-drones. Depending on the number of drones and accessories purchased, a single loan can go up to Rs 10 lakh with 5% interest.
This announcement is seen as a vindication of the work done by Chennai-based drone manufacturer Garuda Aerospace. Its indigenous Kisan Drone has been selected as the product that will be covered under this pioneering loan programme.
Agnishwar Jayaprakash, Garuda Aerospace founder, said,"Garuda Aerospace has already pre-booked over 2,500 drones and firmly is on the path to manufacture one lakh Made-in-India Kisan Drones by 2024".
It has been a good year for the drone industry. After the Drone Rules, clarifying the government's regulatory stance were published last August, the industry also benefited from an Rs 120 crore PLI scheme and a 40%-100% subsidy scheme for drone purchases.
In the press release announcing the new AIF loans, one of the 25 drone service providers chosen for the loan seems to agree that this could be a positive change for the industry. He states that it could generate significant employment and revenue-generating opportunities for drone purchasers.
