As part of its Global Garuda mission, drone startup Garuda Aerospace has expanded its operations into Sri Lanka with the goal of becoming a 50-country presence for the company. According to CEO Agnishwar Jayaprakash, the company’s entry into Sri Lanka is its first action under this worldwide plan.
The Chennai-based company chose Sri Lanka because of the country’s developing drone laws as well as the government’s emphasis on improving technology and precision in agriculture and other sectors in an effort to reduce Sri Lanka’s dependency on tourism. Jayaprakash emphasized that the company’s precision agriculture drones have generated significant interest from around the world, and since their revenue has surpassed Rs 100 crore this year, now is the perfect time for careful international expansion. Sri Lanka was considered a key beginning place before examining other regions because of its proximity to India and its growing drone legislation.
Garuda Aerospace is investigating uses in homeland security and military, namely for industrial and structural damage assessments, in addition to agricultural. With their ability to monitor development and evaluate structural integrity at a reasonable cost, the company’s surveillance drones find great potential in Sri Lanka’s ongoing infrastructure projects, which include roads, ports, and airports.
According to Jayaprakash, Sri Lanka’s regulatory system lags behind India’s by three to four years, giving Garuda Aerospace a chance to capitalize on its knowledge of the Indian industry. In order to support on-the-ground operations, the company has collaborated with a local organization and established operations in Sri Lanka, including a local team and office. They intend to start deploying drones soon.
Garuda Aerospace, which has committed about $10 million to its worldwide expansion initiatives, also hopes to go into the US. The company has set up an office in the United States and is currently applying for drone permits from the Federal Aviation Administration (FAA). Since there is a market for drones made in India, Jayaprakash believes that eventually, businesses in the US and Europe would generate more money than those in India.
