Large and Medium Industries Minister Murugesh Nirani has said that Karnataka will have a new aerospace and defense policy by the end of this year.
Making a strong pitch for investment in this sector, he said that the government is planning to provide an equal opportunity to MSMEs and give incentives to make them competitive as part of the new aerospace and defense policy.
Although Karnataka’s aerospace and defense policy is valid till 2023, the state government is pushing for an updated policy.
The new policy will be introduced as part of the government’s proactive approach to updating our policy to provide a significant push for this critical sector,” Nirani was quoted as saying by her office late Wednesday at Lockheed Martin’s 8th Annual Quoted in India Suppliers Conference.
He also said that the government is in the process of setting up a defense and aerospace park on 1,200 acres at Devanahalli, which could be officially announced by the end of December.
The new policy will focus on attracting Original Equipment Manufacturers (OEMs) to the state and the government is looking to set up clusters not only in Bengaluru but also in other parts of the state such as Tumakuru, where the helicopter complex under Hindustan Aeronautics Limited (HAL) is coming up. Is. Above, Chamarajanagar and even Chitradurga which is turning into an important center for units of Defense Research and Development Organization (DRDO).
Noting that Karnataka is already talking of a strong industrial base, Nirani said, our Gross State Domestic Product (GSDP) is around Rs 17 lakh crore and accounts for the highest total exports among all the states in India. .
Elaborating on Karnataka’s dominant position in the defense and aerospace sector, the Minister said that 25 per cent of India’s aircraft and spacecraft industry is located in Karnataka. Karnataka accounts for over 67 per cent of all aircraft and helicopter production for the defense services and contributes to 65 per cent of the country’s aerospace-related exports. We are home to over 2000 small and micro enterprises with 70 per cent supplier base of India that execute sub-contracting work for Defense PSUs.”
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