The Karnataka government announced Monday that its Aerospace and Defence Policy 2022-27 came into effect from August 26. The policy, cleared by the government on August 12, is aimed at attracting more investments and establishing Karnataka as the preferred investment destination for aerospace and defence manufacturing.
Dr E V Ramanna Reddy, additional chief secretary, commerce and industries department, said in a statement: “The policy objectives of Karnataka Aerospace and Defence Policy 2022-27 is to attract investments to the tune of Rs 45,000 crore in the aerospace and defence sector during the policy period of five years.”
“The other objective is to create additional employment opportunities (direct and indirect) for 60,000 persons during the policy period of five years. It is also to develop Karnataka as the aerospace & defence manufacturing hub, including maintenance, repair and overhaul (MRO) and space applications for both Indian market and exports and to strengthen R&D infrastructure for achieving innovative and cutting-edge technologies,” the statement added.
The policy is also aimed at enhancing the facilitation mechanism for ease of doing business through an industry-friendly policy framework, he said.
Karnataka was the first state to announce an aerospace and defence policy in 2013 and it amended the policy in 2016.
“It has been a leader in the aerospace and defence industry due to the presence of a strong ecosystem. As a result, over the years, leading global players have set up their presence in Karnataka. These establishments over the years have contributed to the strong aerospace and defence ecosystem in Karnataka. 67 per cent of all aircraft and helicopter manufacturing for defence services is done in Karnataka,” Reddy said.
Industries Minister Murugesh Nirani said in June that the government was developing phase-2 of the aerospace and defence park in Haralur near Kempegowda International Airport in over 1,200 acres.
