Adani Enterprises announced on May 27 that it has signed a definitive agreement to acquire a 50 percent stake in General Aeronautics Private Limited, which provides commercial robotic drones and drone-based solutions for crop protection, crop health, precision farming, and yield monitoring using artificial intelligence and analytics for the agricultural sector.
The Indian multinational conglomerate said in an exchange filing: “The Adani Defence Systems and Technologies Limited shall leverage its military drone and AI/ ML capabilities and work with General Aeronautics for providing end-to-end solutions for the domestic agricultural sector.”
Adani Enterprises added that the indicative time period to complete the acquisition is July 31, 2022.
The acquisition comes at a time Prime Minister Narendra Modi has invited investors from all over the world to invest in India's drone industry.
He said while inaugurating the Bharat Drone Mahotsav in New Delhi, "I hope there will be more experiments in the usage of drones in the future. I am again inviting investors from the country and all over the world. I am also appealing to experts in the industry, to make drones more accessible to people. I want to appeal to youngsters that new drone startups should come up."
PM Modi pointed out that drones were being used in many government schemes such as SVAVITMA (for land mapping). With the help of drones, 65 lakh property cards have been generated and disbursed to property holders. In the coming days, Modi said that drones will find applicability in all sectors from defence to disaster management, and from farming to sports.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
