Functioning under the Ministry of Agriculture and Farmers Welfare, the Agri Infra Fund (AIF) has sanctioned a loan for a Kisan drone. This is the first ever drone loan given to Chennai-based Garuda Aerospace.
Joint Secretary Samuel Praveen Kumar, AIF said, “The advanced Agri Drone manufactured by Garuda Aerospace and its unique affordable service model will motivate thousands of drone service providers to avail these Kisan drone loans in quick time. AIF has a target to facilitate loans up to ₹1 lakh crore into the Agri Infra ecosystem and recently we crossed ₹10,000 crore”.
A beneficiary Ram Kumar, one of the 25 drone service providers, upon receiving the loan said, “Kisan drones cover 25 acres per day for precision spraying operations, save pesticide usage by 70%, save water usage by 80% and I’m generating ₹1 lakh a month in revenue.”
Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace adds, “Garuda Aerospace has already pre-booked over 2,500 drones and will manufacture 1 lakh Made in India Kisan Drones by 2024.”