Garuda Aerospace, a leading drone technology company in India, has expanded its operations to Sri Lanka, marking a significant milestone in its global growth strategy. This move is part of Garuda Aerospace’s broader plan to establish a presence in at least 50 countries in the coming years, with a specific focus on the agricultural sector in Sri Lanka. The company aims to introduce advanced drone technology to revolutionize farming practices in the country while also exploring opportunities in homeland security and industrial applications.
Garuda Aerospace’s decision to enter the Sri Lankan market is strategic, considering the country’s favourable regulatory environment and its strategic location. With an impressive revenue of over INR 100 crores in FY2024, the company has allocated approximately $10 million for its international expansion, a substantial portion of which is dedicated to its operations in Sri Lanka. The company’s operations in Sri Lanka are set to commence soon, marking the beginning of what it hopes will be a long and fruitful presence in the country.
Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, expressed his enthusiasm for the expansion, stating, “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.”
In addition to its operations in Sri Lanka, Garuda Aerospace has formed strategic partnerships to bolster its capabilities. In early 2024, the company partnered with Spirit Aeronautical Systems S.A., a Greek manufacturer specializing in weaponized drones, and signed a Memorandum of Understanding (MOU) with Thales to promote growth and innovation in India’s drone sector. As India’s first drone company to receive dual DGCA approvals for manufacturing drones and pilot training, Garuda Aerospace continues to drive innovation and economic growth in the global drone industry.