With an aim to make Karnataka the defence manufacturing hub, the state government will launch the Aerospace & Defence policy in the Global Investors Meet on 2-4 Nov 2022. The duration of the new A&D policy will be five years.
Under the A&D policy, the state will develop five Aerospace and Defence hubs — Bengaluru, Belagavi, Mysuru, Tumakuru and Chamarajanagara districts. It will also focus on setting up of Defence Testing Infrastructure (DTI).
The policy promotes for setting up A&D parks which will have a comprehensive infrastructure facilities including roads, captive power generation, water supply, facilities for R&D, common training facilities, etc.
Large and Medium Industries Minister Murugesh R Nirani said “Our aim is to attract investments to the tune of Rs 60,000 crore in the aerospace and defence sector during the policy period of 5 years.”
“This will help create additional employment opportunities to more 70,000 and help develop state as manufacturing hub including MRO and space applications for both Indian market and exports, which are some of the key features of A&D policy”, he added.
The policy will offer huge land and financial incentives for space, defence, aerospace manufacturers and other sub-sectors.
“With Karnataka leading the Foreign Direct Investments (FDI) of over 40% share in the country, I have no doubt that the state will be a hub of defence & aerospace sector thereby following Prime Minister Narendra Modi’s call of Atmanirbhar Bharat,” said Nirani.
