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Bengaluru is the aerospace hub of India, having more than 65 per cent of the country's investment in the sector, said the Karnataka Chief Minister, Siddaramaiah.
Asking companies to invest in the State, he said, besides the big presence of public sector enterprises like HAL, BEL, NAL, BEML, ISRO, ADA and ADE in Karnataka, many international private players have invested in the sector.
Major international players are European Aeronautic Defence and Space Company (EADS), Boeing, Airbus, HCL, Honeywell and UTC Aerospace.
Karnataka is a progressive State with knowledge-based and manufacturing industries. It has a remarkable history of achieving consistently high rate of State Gross Domestic Product (GDP) growth over a long period of time.
The robust growth potential of aerospace and defence industry is attracting global majors to set up their unit in India, thereby providing tremendous opportunities for participation by Indian industry, he said.
The Defence Offset clause has also opened up new opportunities for Indian companies in this sector.
Karnataka, which was the first State to announce ‘Aerospace Policy 2013-23’, will be in the forefront to cash in on this opportunity.
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