Union Commerce and Industry Minister Shri Piyush Goyal laid foundation stone for Drone City and Space City in Andhra Pradesh through virtual mode on the sidelines of 30th CII Partnership Summit at Visakhapatnam, along with Andhra Pradesh Chief Minister Shri. Nara Chandrababu Naidu.

Speaking on the occasion, the Union Minister lauded the efforts of Chief Minister Shri Chandrababu Naidu in contributing to the growth of Information Technology both in United Andhra Pradesh and India.

He said the Chief Minister has taken forward the same vision by constructing India's first Drone City at Orvakal Industrial Node near Kurnool in about 300 acres dedicated to drones. The Minister also mentioned about the effective use of drones and their role in Operation Sindoor. He said that India should be self-reliant in production of high-quality drones and the upcoming Drone City in Kurnool will help in that direction.

The Minister also appreciated the initiative to construct a Space City near Sriharikota which is the hub of Indian rocket launching.

The Minister backed the efforts of Andhra Pradesh Government in incentivising the prospective investors to attract investments by creating an Escrow account for 100% refund of state GST and reimbursement of 20% percent capital investment making the system free of political and bureaucratic interference. Shri Goyal termed this as a huge message to investors.

The Minister concluded by saying that the Prime Minister's vision of having a drone in every farmer's field and Smart phone for every Indian will be fulfilled under Swarna Andhra 2047 and Viksit Bharat 2047.

Investment incentives via escrow-backed GST refunds and capital reimbursement to attract drone and space manufacturing. Foundation stones were laid for a Drone City at Orvakal Industrial Node and a Space City near Sriharikota to develop domestic drone manufacturing and space infrastructure. The state proposes investment incentives comprising an escrow account mechanism ensuring refund of state GST and a capital investment reimbursement, administered to limit political and bureaucratic interference and to promote self reliance in drone production.