Delhi, August 12, 2024:
Indian drone technology company, Garuda Aerospace has forayed into Sri Lanka, marking another significant step in the company’s global expansion plans. Garuda Aerospace’s initial operations in Sri Lanka will primarily target the agricultural sector, introducing advanced drone technology to enhance farming practices in the country while also exploring opportunities in homeland security and industrial applications. The expansion to Sri Lanka will also support the company in capitalising on the country’s strategic location and drone-friendly regulatory environment.
Having clocked over INR 100 crores in revenues in FY2024, Garuda Aerospace now aims to be present in at least 50 countries over the next few years as a part of its global expansion plans with approximately $10 million earmarked for international growth. A significant allocation of these funds is towards operations in Sri Lanka. Garuda Aerospace’s Sri Lankan operations are set to commence imminently.
Speaking on the development, Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, “Our expansion into Sri Lanka marks a meaningful chapter in our journey. This isn’t merely about growth—it’s about unlocking the full potential of drone technology to create substantial impacts across various sectors. Sri Lanka’s diverse landscape allows us to showcase how our innovative solutions can bring tangible benefits, from agriculture to infrastructure. This move reflects our commitment to driving transformative change through thoughtful innovation, in collaboration with partners who share our vision.”
Garuda Aerospace partnered with Spirit Aeronautical Systems S.A., a leading Greek manufacturer specialising in rotary and fixed-wing weaponized drones in early 2024. The company also signed a MOU with Thales to promote growth and innovation in India’s drone sector. Garuda Aerospace’s global expansion plans demonstrate its commitment to innovation and economic growth through drone technology. With a keen focus on local partnerships and specialised sector-specific offerings, Garuda Aerospace is committed to driving sustainable growth for the drone and allied sectors.
