|
|
|
34 aerospace, defence firms plan to invest in Karnataka
|
|
|
|
Top Stories |
 |
|
|
|
SME Times News Bureau | 07 Feb, 2021
As many as 34 aerospace and defence firms have shown interest in
investing in Karnataka to spur aviation business in the southern state,
an official said on Sunday.
"In all, 34 aerospace and defence
firms have signed an agreement with the state government to invest a
total of Rs 2,464 crore in setting up their facilities, which have the
potential to create 6,462 direct jobs," an official of the Industry
Department's Udyog Mitra told IANS here.
The agreements were
signed at the 13th edition of Aero India 2021 expo at the Yelahanka air
base on the city's outskirts on February 3-5.
Among the firms are
Abhyuday Bharat defence cluster with an investment proposal of Rs 1,000
crore, Gopalan Aerospace Ltd (Rs 438 crore), Alpha Design Technology
and Tesbl Aerospace Corporation (Rs 250 crore each).
"We have a
vibrant aerospace and defence sector ecosystem, which enabled the state
to contribute 65 per cent of exports from the country. The proposed
investing firms will attract others to invest in the aerospace sector,"
said state's Industries Minister Jagadish Shettar in a statement on the
occasion.
As the country's aerospace hub, Bengaluru is home to
several state-run and private firms such as the defence behemoth
Hindustan Aeronautics Ltd (HAL), BEL, BEML, NAL, DRDO, ADA, ADE and
ISRO.
"With an investor-centric approach, our new industrial
policy (2020-25) offers incentives for investing in the state, with
regulatory reforms for access to land and labour," asserted Shettar.
The
recent Innovation Index of the policy think tank NITI Aayog has ranked
Karnataka on top, indicating the state's strengths in human resources,
higher education, thrust on research and development, with a conducive
investment climate and a pro-active administration.
Bengaluru is
also home to a quarter (25 per cent) of the country's aircraft and
spacecraft industries, which roll out 67 per cent of planes and
helicopters for defence services.
With a dedicated aerospace
policy, the state also has an ancillary ecosystem for the industry to
support state-run defence units, R&D centres, scientific and
technical institutes and 2,000 small, micro and medium enterprises.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
Japanese
Yen |
55.05 |
53.40 |
As on 12 Oct, 2024 |
|
|
Daily Poll |
 |
 |
Do you think Indian businesses will be negatively affected by Trump's America First Policy? |
|
|
|
|
|
Commented Stories |
 |
|
|
|
|
|
|
|