K'taka Minister in UAE makes strong pitch for investment in state

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SME Times News Bureau | 17 Oct, 2021
Seeking to highlight its dominant position in the aerospace and defence sectors, the Karnataka government made a strong pitch for more foreign investments in these sectors at World Dubai Expo 2020.

Delivering a keynote address during the Session on "Opportunities in Aerospace, Defence and Space Sector of Karnataka" at Dubai Expo 2020 on Sunday, the Large and Medium Industries Minister Murugesh Nirani said the state has great potential in these sectors.

"Karnataka, apart from being India's largest Aerospace cluster, is also the 2nd largest producer of Heavy Electrical machinery in India. Bengaluru alone produces around 60 per cent of machine tools in India. Our State is also the 2nd largest chip design hub in the country. We have set up a Center of Excellence in partnership with Dassault Systems to provide industry-ready manpower," Nirani said.

Highlighting the thriving small scale industries many of which are auxiliary to the aerospace and defence sector, minister Nirani said the state is providing a support system to push these sectors. "Karnataka has a strong base of around 2000 SMEs that carry out niche sub-contracting work in the Aerospace & Defence sector. Therefore, the well-developed support system for the sector has further facilitated the expansion of this industry while also attracting the global players to set up their base in our state," Nirani added.

The minister lauded the Dubai Expo 2020 for providing a forum for states, business leaders and other stakeholders to meet, interact and collaborate. "I am confident that the dialogues and exchange of ideas that started on this platform will continue and translate into wonderful results for us to witness. I am positive that the upcoming Indian start-ups will learn from the experiences of the seasoned players and use their journey as the guiding path for their decisions in the future," Nirani said.

Earlier in the day he held a series of Business to Government (B2G) meetings with the business delegations of top companies at Karnataka Pavilion in Dubai Expo 2020 here. The minister, who is keen to make most of the event in his packed schedule, wooed the business leaders to make investments in Karnataka by briefing about the business ecosystem and excellent opportunities in the state.

The minister held a Business to Government (B2G) meeting with United Parcel Service (UPS) company delegation headed by Rachid Fergati, Managing Director, Middle East and Indian Subcontinent, Christina Struller, Vice President public policy. UPS is one of the world's largest package delivery companies and a premier provider of global supply chain solutions.

Murugesh Nirani also held talks with Dawood Al Shezawi, President, Annual Investment Meeting (AIM). Walid Farghal, Director General, AIM and others were present. The AIM is an initiative of the UAE Ministry of Economy designed to provide a framework for global exchange on the key principles underpinning international investment policies, strategies and practices for sustainable development to achieve smart and inclusive global growth.