From Our Special Correspondent

Daijiworld Media Network

Bengaluru, Aug 31: As part of the strategy to attract investment in the capital-intensive aerospace sector and make Karnataka as one of the leading defence production hubs in the country, the State Cabinet on Wednesday approved the amended Karnataka Aerospace Policy 2013-23.

The amended aerospace policy is aimed at attracting global investments and to make Karnataka a magnet for global tier-1 suppliers, and the globe’s Maintenance, Repair and Operation (MRO) centre.

During the Invest Karnataka 2016 meet held early this year, investors’ evinced interest on investing Rs 14,520 crore on 33 projects, which are expected to generate over 10,000 jobs.

Briefing reporters after the state cabinet meeting in Bengaluru on Wednesday, law and parliamentary affairs minister T B Jayachandra said the State had already established itself as a leading spare parts manufacturing hub and was now planning to capture the global market.

The minister said a helicopter hub was coming up at Gubbi in Tumakuru, the Aeronautical Test Range (ATR) of the Defence Research and Development Organisation (DRDO), was coming up near Challakere in Chitradurga district.

Tier II cities such as Mysuru and Belagavi have also emerged as leading aerospace spare part manufacturing hubs, he said.

Amendments would also bring in investment in establishment Defence Park in the State, Jayachandra said.

Stating that France and USA have been depending on Karnataka for spare parts, the Minister said: “We want to continue our leadership in this sector by bringing in more investments.”

The Karnataka Aerospace Policy 2013-23 was announced in February 2013, the Industrial Policy 2014-19 is in existence.

As several features of Karnataka Industrial policy were overlapping with the Aviation Policy, amendments were suggested for the Aerospace Policy, to demarcate policy incentives, the minister explained.