IoTechWorld Aims for Sky-High Sales: Plans to Sell 3,000 Drones in FY’24, Up Sixfold | CPT PPP Coverage

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During 2023-24, IoTechWorld, India’s first firm with a DGCA Type Certificate (TC), plans to expand its product range with the introduction of numerous new types of unmanned aerial vehicles, including a new model of agricultural drone – AGRIBOT A6 – and surveillance drones. Introducing new items will boost the company’s market share and competitiveness.

However, the agri-drones will always be the company’s product. Last week, the firm marked its sixth Foundation Day by unveiling a new “A6” version of its popular agricultural drone “AGRIBOT.” This new version of the drone is intended to be more compact and portable than its predecessor, making it easier to transport. Anoop Upadhyay and Deepak Bhardwaj, Co-Founders and Directors of IoTechWorld, welcomed RG Agarwal, Founder Chairman, and MK Dhanuka, Managing Director of Dhanuka Agritech Ltd. on this occasion.

“We had a successful business last fiscal year, selling close to 500 agri drones. It’s wonderful to see a rising awareness of the benefits of employing drones in agriculture, as well as backing for their usage from both the federal and state governments. Looking ahead, we’ve set an ambitious goal of 3,000 drones this year. We are confident in our ability to reach this target and continue to contribute to the adoption of drone technology in agriculture because of our focus on new technology, competitive pricing, and successful marketing techniques.” Deepak Bhardwaj, Co-Founder of IoTechWorld Avigation.

He also stated that the company has grown five times during the last year. IoTechWorld is the only company in the country with a presence in every state, and the company has ambitious ambitions to capitalize on its pan-India footprint.

Anoop Upadhyay, another Co-founder and Director, commented on the company’s export plans, saying, “IoTechWorld has huge potential to expand its drone business in foreign markets, as many potential buyers in various countries are reluctant to import drones from China due to concerns about inadequate after-sales service and anti-China sentiment.”

“We are focusing on key international markets such as Russia, Africa, Brazil, and South Asian countries. We are already in discussions with potential buyers in these regions,” Upadhyay said. Dhanuka Agritech, India’s premier agri-tech business, has invested in IoTech, and Syngenta India has worked with IoTech to build services models and Agri-entrepreneurs across India.

According to Bhardwaj, the use of AGRIBOT drones for agriculture is highly cost-effective for farmers because they can save greatly on inputs such as agrochemicals, fertilizers, and water while attaining significantly higher crop yields than traditional methods. Furthermore, the usage of drones saves farmers a significant amount of time while also providing health benefits.

According to Upadhyay, the new model of the “AGRIBOT” is more compact as a result of a successful redesign of the wings and related sections. IoTech has also created India’s first and only Bike Model, which makes the Bike Drone more practical and convenient for users who need to carry it to other areas.

IoTech’s drones contain at least 70% Made in India components, and their prices are projected to fall as more are sold locally. In addition, the corporation is boosting its usage of local components. According to the business, the Production Linked Incentive (PLI) strategy for the sector will be a game changer, and India will soon become a key participant in global drone manufacturing.

First published on: 24 Apr 2023, 17:56 IST