New Delhi- Union Minister of Commerce and Industry, Piyush Goyal, has hailed the Prime Minister's 'NAMO Drone Didi' initiative for empowering women in the agriculture sector. The initiative aims to promote drone technology to increase crop yields and reduce farmers' expenses.

During his address at the International Innovation Conclave organised by the PHD Chamber of Commerce and Industry (PHDCCI) in New Delhi, Goyal praised the growth of the drone industry in the last three years and said that it is aligned with the PM's vision of making the country's agriculture sector more sustainable. The minister said that technological advancement in the drone industry will aid in tackling erratic weather patterns and enable farmers to obtain higher quality and quantity of yields.

He further stated that the Production-Linked Incentive (PLI) Scheme for drones and drone components will provide a boost to the sector's growth and ensure three times the result in the third term of the PM's administration. Goyal expressed confidence that the country will be able to become the third-largest economy in the world by the end of the decade.

The minister also highlighted the need to promote financing and mentoring of the drone ecosystem through SIDBI to enable this. He informed that 18 Initial Public Offerings (IPOs) have already been proposed in the first half of 2024, with 17 IPOs being proposed in 2023. The government is committed to creating an enabling environment for the growth of the drone industry by easing the regulatory structure and providing incentives.