Garuda Aerospace expands to Sri Lanka as part of global growth strategy

New Delhi: Garuda Aerospace is expanding its global footprint by entering the Sri Lankan market. The company aims to leverage drone technology to transform the agricultural sector in Sri Lanka and explore opportunities in homeland security and industrial applications. This expansion is part of Garuda Aerospace’s larger strategy to be present in at least 50 countries in the coming years, with an investment of $10 million dedicated to international growth.

In FY2024, Garuda Aerospace reported revenues exceeding INR 100 crores. The company plans to allocate a significant portion of its international growth funds to establish operations in Sri Lanka, taking advantage of the country’s strategic location and drone-friendly regulatory environment. Operations in Sri Lanka are set to begin soon, marking a significant milestone in Garuda Aerospace’s journey towards global expansion.

Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, commented, “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.”

Earlier this year, Garuda Aerospace partnered with Spirit Aeronautical Systems S.A., a Greek manufacturer specializing in rotary and fixed-wing weaponized drones. The company also signed a memorandum of understanding with Thales to foster growth and innovation in India’s drone sector. 

Garuda Aerospace is the first Indian drone company to receive dual DGCA approvals for manufacturing small and medium-category drones and pilot training. Backed by cricketer Mahendra Singh Dhoni, the company recently launched India’s first drone-exclusive showroom in Chennai. As part of the ‘NaMo Drone Didi’ scheme, Garuda Aerospace delivered 445 Kisan drones to various fertilizer companies and public sector undertakings, underscoring its leadership in the agricultural drone sector.