The Aerospace and Defence (A&D) Policy (2022-27) will be ready before the three-day Global Investors Meet (GIM), which starts on November 2, according to an announcement made by Karnataka Industries Minister Murugesh Nirani on Sunday.
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In the aerospace and defence sectors, the policy, according to him, aims to bring in investments worth Rs 60,000 crore over a five-year period.
The state will build five aerospace and defence hubs in Bengaluru, Belagavi, Mysuru, Tumkur, and Chamarajanagar as part of the A&D policy, which intends to make Karnataka the preferred investment destination for the manufacturing of aerospace and defence.
The policy encourages A&D parks that will have complete infrastructure facilities, including roads, captive power generation, water supply, facilities for research and development (R&D), common training facilities, common warehouse facilities, plug-n-play facilities, such as manufacturing complexes and built-in space for all precision manufacturing companies, and government ITIs to provide courses pertaining to the aerospace and defence sector to create a strong pool of talent.
One of the main components of the initiative, according to him, is to generate more than 70,000 new job opportunities and to transform the state into a hub for the manufacturing, including MRO facilities and space applications for the Indian market as well as exports.
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