Manufacturing - #SectorUpdates
India is keen to have the Electronic Vertical Take Off and Landing (eVTOL) aircraft manufacturers use the country as a major manufacturing base, once all regulatory approvals are in and commercial production starts. According to the Minister of Civil Aviation, Mr. Jyotiraditya Scindia, “the next technology paradigm is going to happen once European Union Aviation Safety Agency (EASA) and Federal Aviation Administration (FAA) approve eVTOL vehicles”. Currently, over 200 companies, including Airbus, Boeing, Embraer and Honda, are estimated to be engaged in developing eVTOLs worldwide. The Government is engaging with foreign eVTOL manufacturers to explore the potential of the Indian market. Currently drones are finding application across diverse industries such as agriculture, power, survey and mining. Given the huge demand and market growth, the number of drone start-ups in India has jumped 34.4 percent between August 2021 and February 2022. India now boasts of 220 drone startups.