Drone startup Garuda Aerospace has broadened its operations into Sri Lanka as part of its Global Garuda initiative, which aims to expand the company’s presence in 50 countries. The expansion into Sri Lanka marks the company’s first move under this global strategy, as noted by CEO Agnishwar Jayaprakash.
The Chennai-based company selected Sri Lanka due to its evolving drone regulations and the government’s focus on advancing technology and precision in agriculture and other industries, seeking to lessen its reliance on tourism. Jayaprakash highlighted that with the company’s revenue surpassing Rs 100 crore this year, there has been substantial international interest in their precision agriculture drones, making it an ideal time for cautious international expansion. Sri Lanka, due to its proximity to India and developing drone policies, was seen as a strategic starting point before exploring further regions.
In addition to agriculture, Garuda Aerospace is exploring applications in homeland security and defense, particularly for industrial and structural damage assessments. Sri Lanka’s ongoing infrastructure projects, including ports, airports, and roads, offer significant opportunities for the company’s surveillance drones, which are a cost-effective method for monitoring progress and assessing structural integrity.
Jayaprakash noted that Sri Lanka is approximately three to four years behind India in terms of regulatory frameworks, presenting an opportunity for Garuda Aerospace to leverage its experience from the Indian market. The company has established operations in Sri Lanka, including a local team and office, and has partnered with a local entity to support on-ground activities. They plan to commence drone deployments shortly.
Garuda Aerospace is also aiming to expand into the US, having invested around $10 million in its global expansion efforts. An office has been opened in the US, and the company is in the process of applying for Federal Aviation Administration (FAA) licenses for its drones. Jayaprakash anticipates that operations in the US and Europe will eventually surpass the revenue generated in India, as there is a global demand for drones manufactured in India.
