34 Aerospace And Defence Firms Propose To Invest And Set Up Manufacturing Units In Karnataka

34 Aerospace And Defence Firms Propose To Invest And Set Up Manufacturing Units In KarnatakaKarnataka CM B S Yediyurappa.

In a boost to manufacturing, investment and job creation for the State of Karnataka, as many as 34 aerospace and defence firms have evinced interest to invest Rs 2,464 crore to set up their facilities in the State, reports Business Standard.

The proposals would go on to create 6,462 direct employment opportunities in the State if and when materialised. The agreements for the same were signed at the just culminated 13th edition of Aero India 2021 expo which was held at the Yelahanka airbase on the outskirts of Bengaluru from 3-5 February.

Abhyuday Bharat defence cluster has proposed an investment of Rs 1,000 crore, Gopalan Aerospace Ltd has proposed an investment of Rs 438 crore, and Alpha Design Technology and Tesbl Aerospace Corporation have proposed to invest Rs 250 crore each.

Speaking about the investment proposals, State's Industries Minister Jagadish Shettar exuded confidence that the proposed investing firms would attract other firms to also invest in the aerospace sector.

It should be noted that the State's capital of Bengaluru is already home to about a quarter of the nation's aircraft and spacecraft industries which roll out 67 per cent of the planes and helicopters produced in the nation for defence services.