Supportive policy measures in the EU budget cheer up geospatial and high-tech companies

Union Finance Minister Nirmala Sitharaman’s budget has certainly brought joy to companies working in the geospatial sector. The Minister’s announcements on drone hubs and their use for the management of agricultural and land records will, they say, be a boost for the sector.
Drones, GIS (geographic information system) and the use of satellite data for predictive analysis have long been considered multi-use hot segments for technology. In recent years, the GIS has broadened its scope from agriculture to urban planning. Satellite imagery has also found multiple uses and a recent green nod to drones for agricultural nutrient management has opened up new segments for this technology. Many start-ups have multiplied to meet the growing need for this technology.
In her budget speech, the Minister of Finance once again reiterated the government’s emphasis on this sector. Geospatial systems and drones were associated with artificial intelligence as a flagship segment that would see supportive policy measures. The Kisan drones, in addition to being used for nutrient application, would also be used for updating and evaluating land records.
Shrikant Gabale, director of Unity Geospatial & Graphics Solutions, welcomed the move. “Upgrading land records will provide immense potential for utilizing latest technology. Land records are supposed to be kept by the state government. With the exception of Karnataka, records are not updated in other states. This decision would help streamline the process,” he said.
Similarly, Roli Jindal, co-founder of deep tech firm RMSI Cropalytics, welcomed the budget announcement. “The government’s recent revision of geospatial data guidelines and budget announcement on the use of kisan drones for crop assessment will boost the agricultural ecosystem. Innovative agricultural start-ups like Cropalytics welcome the government’s intention to engage start-ups and agri-tech companies… This will give us a better opportunity to bring in the latest technologies like satellite imagery, IoT devices, drones, AI and ML for land digitization, crop yield estimation, yield tracking and many other benefits for the agricultural sector,” she said.
Rajiv Kapoor, President and Managing Director of RMSI Pvt Ltd, described the move as encouraging. “Geospatial technology has evolved from a niche technology to a mainstream technology driving public-private partnerships for major infrastructure programs, ensuring their timely completion through tracking, monitoring and performance management in accordance to plans. GIS will be a crucial technology that will drive the country’s growth ambitions – providing jobs and also helping the new era ecosystem by providing location intelligence at your fingertips,” he said.