Minister of State for Civil Aviation, Jayant Sinha, who is spearheading the drone revolution in the country, spoke about issues ranging from creating game-changing regulations to launch of flying taxis in an interaction with Business Today's Manu Kaushik and Rajeev Dubey. Edited excerpts:

From spiralling costs and cut-throat competition pushing airlines into the red to government initiatives aimed at boosting the fast-growing sector

\"The staid construction industry is rewriting the rules as companies use next-gen technologies. Components are tagged from origin to consumption using sensors,\" says SN Subrahmanyan, CEO & MD of L&T.

\"As developed nations start using Autonomous Flying Vehicles to offer a multitude of services, Indian drone service providers face a multitude of problems. There are many regulatory challenges as use of large parts of India's airspace is restricted.\"

Be it retail, healthcare, education, finance or even homes, technology is providing the consumer a totally different experience.

\"Drones are about to open up a completely new dimension in application areas as diverse as photography, delivery and security.\"

\"The day is not far when, with sheer computing power along with AI and robotics, we will be able to deal with unstructured tasks.\"

\"India is taking the first steps to 5G, which offers data speeds that are 20 times faster and allows 100 times more devices to be connected compared to 4G.\"

\"Drone taxis can be a solution to both road congestion and the heavy need for infrastructure.\"

Tech-enabled surveillance is about to be used for a social credit system in China, and the possibilities are frightening.

Suresh Prabhu had asked the International Finance Corporation to help attract other sovereign funds and pension funds to invest into India.