India’s Drone Destination to Establish European Subsidiary in Cyprus
Drone Destination, a prominent Indian drone technology and training company, is planning to set up its European subsidiary in Cyprus. The new entity will concentrate on drone development, services, training, and drone sports, aiming to create a comprehensive ecosystem for unmanned aerial systems across Europe.
The announcement was made during Prime Minister Narendra Modi’s recent visit to Cyprus. Manish, the High Commissioner of India to Cyprus, expressed his welcome for Indian companies like Drone Destination to invest in Cyprus, particularly in future-ready sectors such as drone technology and artificial intelligence. This move aligns with PM Modi’s vision to make India a global drone hub by 2030, with Cyprus serving as a strategic gateway into Europe, the Middle East, and Africa.
Cyprus is actively seeking investments in the drone technology sector, recognizing its potential to transform various industries including defense, infrastructure monitoring, agriculture, logistics, environmental monitoring, STEM education, and entertainment. Marios Tannousis, CEO of Invest Cyprus, highlighted the opportunity for Cyprus to lead in this critical sector by creating a secure, sovereign, and innovation-led drone hub.
Drone Destination is already in discussions with government and private sector entities in Cyprus to develop a state-of-the-art drone ecosystem. The initiative is expected to deliver sovereign capabilities, attract foreign direct investment, and position Cyprus as a trusted global innovation hub in the drone technology sector.
Alok Sharma, Chairman of Drone Destination, expressed pride in bringing India’s expertise in drone services and pilot training to Cyprus. He emphasized the potential of combining India’s scale and innovation with Cyprus’s strategic location, IP protection, and policy clarity to build a global center in the drone technology domain.
The establishment of Drone Destination’s European subsidiary in Cyprus marks a significant step in India’s growing presence in the global drone technology market. With PM Modi’s push for the use of drones across various sectors in India, this initiative is poised to further enhance India’s position as a leader in drone technology and innovation.
