Karnataka’s Aerospace & Defence Policy Eyes $6 Billion Investments

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As per the new Aerospace & Defence Policy of the state of Karnataka, the government intends to generate more than 60,000 employment opportunities, while also aiming to draw $ 6 billion in investments. After the approval by the state Cabinet, a Government Order (GO) was issued recently. It is interesting that although UP and Tamil Nadu have come up with aerospace industrial corridors, Karnataka is still the first state to bring out an aerospace policy in the country.

According to the order, this incentives-and-concessions-packed policy, which takes effect from August 26, 2022, will be applicable for a period of five years or till a new policy is announced.

It is noteworthy that a fourth of India’s aircraft and spacecraft industry is Karnataka-based, while two-thirds of all aircraft and helicopter manufacturing for Defence happens in the state. The creation of an enhanced facilitation mechanism for ease of doing business would only add to the existing infrastructure and ecosystem. This would be done through an industry-friendly policy framework which would also strengthen R&D infrastructure.

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The new policy aims to develop Karnataka as a space applications manufacturing destination. In that direction, it will work on the following initiatives in the coming years: skill development, building five aerospace and defence parks, strengthening R&D infrastructure for encouraging innovative and cutting-edge tech, and promoting common testing facilities, with a continued thrust on MSMEs. Bengaluru, Belagavi, Mysuru, Tumakuru and Chamarajanagarhave been identified as aerospace and defence manufacturing hubs. They may be developed as Special Economic Zones (SEZs). The Indian aerospace and Defence market is estimated to reach around $70 bn by the end of this decade.


 

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