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Karnataka has emerged a business-friendly destination because of the thriving ecosystem, said Karnataka Chief Minister HD Kumaraswamy.
Speaking at the Aero India 2019, Kumaraswamy said Karnataka with highly skilled and talented workforce, great technical expertise, relentless innovation backed by business-friendly policies has become the most sought-after destination in the country.
“Karnataka has been at the forefront of India’s march towards economic growth. Karnataka’s GSDP was ₹12 lakh crore in 2018-19 and the State’s economy is expected to grow at 9.6 per cent during 2018-19,” he said.
A congenial economic environment has been created in the State to boost investor confidence. For the third year in a row, Karnataka has been ranked first in the country as the most attractive State for investments. “Karnataka has regained its glory of being a business proactive State by ensuring 98 per cent compliance to provisions of Business Reforms Action Plan,” the chief minister said.
He added that “Karnataka believes in futuristic modern and digital technologies to improve productivity and ensure competitiveness. We are determined and focussed in our efforts to make Karnataka, particularly Bengaluru, as the hub of next-gen technologies.” The State is one of the leading high-tech industrialised States in the country and the undisputed leader in aerospace and Defence.
Aerospace SEZ
He said the country’s first aerospace SEZ has been made operational at Belagavi and is poised to grow into a global centre with access to a quality ecosystem.”
Karnataka has been the first to develop a Hi-Tech, Defence and Aerospace Park for Aerospace Component, IT and Defence Industries. Now with the aim to make Karnataka as one of the leading MRO hubs in Asia, MRO centres at BIAL and Mysuru are being set up, which will provide full aircraft base maintenance services. A Defence Manufacturing Cluster at Mangaluru is also being planned, he said.
The industry-driven aerospace park located at Devanahalli where the international airport is based, will act as a catalyst of growth by making world-class skilled professionals available for the aerospace and Defence sector.
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