RattanIndia Enterprises Ltd. welcomes new Drone Rules announced by Hon'ble Prime Minister - Narendra Modi

RattanIndia Enterprises Ltd. welcomed the new Drone Rules, 2021 announced today by Hon'ble Prime Minister, Narendra Modi. These new liberalized Drone Rules, 2021 notified by Ministry of Civil Aviation, Govt. of India are set to transform core sectors of the economy including logistics, agriculture, mining, infrastructure, surveillance, emergency response, transportation, geo-spatial mapping, defence, and law enforcement and will make India a global hub for drones by 2030. Drone systems will prove to be extremely transformative by providing cost effective solutions for developing countries like India, which have large urban agglomeration and ultra-high population density and lack of fundamental infrastructure.

This announcement by Hon'ble Prime Minister, Mr. Narender Modi with give huge fillip to the sector and will be particularly beneficial to Rattanindia Enterprises which has made investments and has big business plans in the sector. The liberalized Drone Rules, 2021 will pave way to accelerate the commercial and industrial use of drones in India and usher in greater innovation in the sector. RattanIndia Enterprises with its deep focus on drones technology and its business potential in India, had recently made a strategic investment in US based Matternet, the world's most extensive urban drone logistics platform with its state of the art drones and operations across many countriesworldwide. As announced on 23 August 2021, in light of the strategic investment in Matternet, RattanIndia Enterprises Limited is incorporating a wholly owned subsidiary to kickstart UAV drone business operations in India.

Drone systems as means of green, clean and ultra fast mobility also resonate with government's vision of making India energy independent by reducing spends on annual oil imports of Rs. 12.5 lac crore apart from the positive impact on the environment. These drone systems, cloud connected and operated through centralized mission control centres are highly efficient means to undertake specialized works while saving on time, fuel and manpower costs.

These Drone Rules, 2021 are intended to ensure the ease of using drones in India based on "trust, self-certification and non-intrusive monitoring. These rules are designed to usher in an era of supernormal growth while balancing safety and security considerations. Salient features of these Drone Rules, 2021 include:

- Establishment of "drone corridors" for cargo deliveries.
- No permission required for operating drones in green zones.
- Coverage of drones under Drone Rules, 2021 increased from 300 kg to 500 kg. This will cover drone taxis also.
- Digital, faster and paperless self generated approvals and permissions.
- Remote pilot licence to be issued by DGCA within 15 days
- Drone promotion council to facilitate a drone-friendly regulatory regime.
- Reduction in limits for operations from the airport perimeter

Anjali Rattan, Business Chairman of RattanIndia Enterprises said "Announcement of Drone Rules, 2021 by none other than Hon'ble Prime Minister-Mr. Narender Modi himself shows the seriousness and deep commitment of Govt. of India towards the sector. Drone systems with its cutting-edge technology has potential to transform the lives of billion plus Indians. RattanIndia Enterprises has been at the forefront of this transformation and in view of its huge potential has big plans in the drone sector."

Shares of RATTANINDIA ENTERPRISES LIMITED was last trading in BSE at Rs. 45.4 as compared to the previous close of Rs. 45.95. The total number of shares traded during the day was 320800 in over 1556 trades.

The stock hit an intraday high of Rs. 46.9 and intraday low of 43.7. The net turnover during the day was Rs. 14196872.

Source : Equity Bulls

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