Industry welcomes new drone rules, sees Rs 50,000 crore market potential

Says rules can create 500,000 jobs in five years, will open up opportunities for indigenous manufacturing of delivery drones and drone taxis to make India future ready

The government on Thursday announced the new "Drone Rules, 2021," which ease the approval process, allow self certification and reduce the documentation and fees, were welcomed by the industry.

These rules replace the Unmanned Aircraft System (UAS) Rules, 2021, which came into force in March this year.

"The new Drone Rules usher in a landmark moment for this sector in India. The rules are based on the premise of trust and self-certification. Approvals, compliance requirements and entry barriers have been significantly reduced," Prime Minister Narendra Modi said in a tweet on Thursday.

The Ministry of Civil Aviation has reduced the number of forms