If your goal is to rebuild indexes (remove fragmentation) just rebuild them. The rebuild has several algorithms it can use, including in most cases reading the old index to create the new one, something that isn't possible if you drop the index.
Dropping and later recreating indexes is for when you want to bulk-load data and get it in fast without worrying about the overhead of the indexes.
For removing fragmentation, use ALTER INDEX ... REBUILD or REORGANISE, depending on the fragmentation and size of the indexes. If you want to just rebuild everything - ALTER INDEX ALL ON <Table> REBUILD.
If you drop then create there are downsides. Firstly you're possibly allowing duplicate data in while the unique indexes are not present. You're also increasing the logging impact. Finally if the definition of the index is changed and you forget to change your 'rebuild' script, those changes will be lost the next time the index is rebuilt.
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