IoTechWorld’s Agricultural Drone Sales Increasing, Aims At 3,000 Units in FY 2023-24

IoTechWorld Avigation, an Indian agricultural drone manufacturer, aims to increase its sales from 500 drones last year to nearly 3,000 in the current year. The company plans to expand its product offerings and leverage its network across India to enter new markets in Russia, Africa, Brazil, and the SAARC region.

The company recently launched a more compact and portable version of its popular agricultural drone, AGRIBOT. The adoption of drones in agriculture is considered highly economical for farmers as it can save a significant amount on spraying agrochemicals, fertilizers, and water while achieving significantly higher crop yields.

The central government is also focused on the usage of drones in agriculture to help farmers, and there is a provision for financial assistance for the purchase of agricultural drones.

IoTechWorld has the potential to expand its drone business in foreign markets as many potential buyers in various countries are hesitant to import drones from China due to concerns about inadequate after-sales service and anti-China sentiment.

The central government approved the Production-Linked Incentive (PLI) scheme for drones and drone components in 2021 to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain, and reduce dependency on imports.

IoTechWorld said the PLI scheme for the sector is going to be a game changer, and India will soon become a major player in drone manufacturing globally. Its drones have a minimum of 70 per cent Made in India components, and their prices are expected to decrease as more are sold locally.

Innovative technology, competitive pricing, and effective marketing strategies have been IoTechWorld's focus, and the company is confident in its ability to meet its ambitious sales target and continue to contribute to adopting drone technology in agriculture.

The adoption of drones in agriculture has seen significant growth in recent years, with farmers worldwide recognizing their potential to increase crop yields while reducing costs. With the government's support and financial assistance, IoTechWorld's expansion plans are expected to drive the adoption of drones in agriculture in India and globally, making the farming industry more efficient and sustainable.

-With ANI Inputs

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