Mumbai, Sept. 18 -- The company forays into the fast-growing drone technology sector through a non-binding MoU. The proposed partnership aims to establish a special purpose vehicle (SPV) for the development, manufacturing, and deployment of AI-powered autonomous drones with applications spanning border security surveillance, industrial sites, law enforcement, agriculture & environment protection.

"Global commercial drone market is expected to reach $55-90 billion by 2030, at a CAGR between 7.7%- 14.3%. In India, the drone sector is estimated to touch Rs 1.95 lakh crore (around $23 billion) by 2030, supported by government incentives, PLI schemes, and agriculture adoption initiatives," the company stated in regulatory filing.

Puneet Sing...