RattanIndia Enterprises Limited has informed that it is incorporating a wholly owned subsidiary of the Company to kickstart the Drone business in India. This is in line with the stated business strategy of the Company to start businesses with cutting edge technologies with potential to transform the lives of billion plus Indians.
The Company had recently announced the strategic investment in US based Matternet, the world’s most extensive urban drone logistics platform with operations across many countries worldwide.
In light of this strategic investment in Matternet, RattanIndia Enterprises Limited is incorporating a wholly owned subsidiary to kickstart UAV drone business operations in India.
Drone systems have wide variety of commercial and industrial applications in healthcare and e-commerce logistics, infrastructure monitoring, agriculture, weather monitoring, surveying, law and order and traffic monitoring.
Drone systems will prove to be extremely transformative by providing cost effective solutions for developing countries like India, which have large urban agglomeration and ultra-high population density and lack of fundamental infrastructure.
The Government of India realizes the immense economic potential of the drone industry and took a major step toward opening the market when it released Draft Drone Rules on July 15, 2021. The rules are intended to ensure the ease of using drones in India based on “trust, self-certification and non-intrusive monitoring.”
Salient features of these Draft Drone Rules include:
Establishment of “drone corridors” for cargo deliveries.
Drone promotion council to facilitate a drone-friendly regulatory regime.
Removal of restrictions on drone operations of foreign-owned companies
Reduction in limits for operations from the airport perimeter
Faster and paperless approvals
At around 9:25 AM, RattanIndia Enterprises was trading at Rs46.05 per piece down by 4.95% on Sensex.