ATM News Network: Chemical maker Coromandel International has joined forces with drone startup Dhaksha to tackle the persistent labour shortage in India's agriculture sector, as reported by Reuters. Having acquired a majority stake in Dhaksha for 6.25 billion rupees ($75.96 million) in June, Coromandel aims to explore innovative growth avenues through this strategic partnership.
Dhaksha's versatile drones offer the capability to spray nutrients and pesticides on crops, while also finding potential applications in defence and surveillance sectors. Recognizing the pressing need for agricultural efficiency and reduced dependency on manual labour, Coromandel sees immense potential in integrating Dhaksha's technology into the farming landscape.
With farmers facing challenges in sourcing and retaining labour, agri-drones emerge as a promising solution to improve productivity and minimize costs. Coromandel's Chief Financial Officer, Jayashree Satagopan, stated that the startup has engaged with dealers in various states like Telangana, Karnataka, and Andhra Pradesh, aiming to sell its drones to high net-worth farmers and offer drone services.
While Dhaksha's contribution to Coromandel's revenue is not expected to be immediate, the partnership signifies a strategic move towards addressing industry challenges and fostering agricultural innovation.