In a bid to facilitate the growth of a larger number of ancillary industries and to retain its tag of being the country’s aviation hub, the state government has decided to make changes to the Karnataka Aerospace Policy 2013-23.
Law minister TB Jayachandra is of the opinion that the government will offer incentives and concessions, which are currently being provided to other industries, to the aerospace sector as well. This apart, a separate policy to boost employment in the aviation sector will be rolled out.
He added the government would encourage the growth of aerospace-related industries in Mysuru, Tumakuru, Chitradurga and Belagavi. The state is already home to original airline equipment manufacturers.
Saying the state had received 33 investment proposals related to the aerospace industry during the Invest Karnataka meet, Jayachandra said, “These investments are worth Rs 14,520 crore and can generate employment for 10,585 persons. It is againstthis backdrop that we are making changes to our aerospace policy. We want more firms to start operations.”
The state has also decided to roll out a pharmaceutical policy, along similar lines.
By EB Bureau