community of drone makers, tech companies, and experts are eager to make the country a drone center by 2030. Over the next three years, the Ministry of Civil Aviation expects an investment of more than 5,000 crore in the drone production business, with annual sales revenue exceeding more than 900 crore in the financial year 2023-2024.
Sushant Sarin, president of commercial business, TATA AIG General Insurance Ltd, expressed optimism over the RPAS insurance product and also assured better customer service. He said, “Driven by our core value of Customer First, we have co-created a market fit product with due consideration given to invaluable inputs from the Drone Federation of India (DFI). Our product fulfils the market requirement and is in line with the recommendations of the working Group formed by IRDAI on RPAS Insurance. We are confident that our RPAS insurance product shall exceed the expectations of all stakeholders in the drone ecosystem”.
Sarin further spoke about the drone services and its insurance requirements. He said, “The recent liberalization of rules for owning and operating drones, coupled with the announcement of the Production Linked Incentive (PLI) scheme is an important milestone that will spur high growth of this segment. TropoGo is our distribution partner that will fulfil the insurance requirements of drone owners and operators”.
