The Karnataka government has set a target of nearly doubling its defence production to ₹25,000 crore by 2025, said State Industries Minister MB Patil.
Karnataka also aims to attract investments of ₹45,000 crore in the aerospace and defence sector during the policy period of five years. This is expected to generate 60,000 employment opportunities, including direct and indirect opportunities, said the Minister. He was talking at the 36th National Convention of Aerospace Engineers.
The Minister noted that the government was committed to making Karnataka the aerospace and defence manufacturing hub, including maintenance, repair and operations for both the Indian market and exports.
Increasing share
“Though India’s space program is among the most advanced, it occupies only a small fraction of the global space economy. Recognising this, our government has initiated reforms to encourage private participation and foster growth in the space sector, thereby attempting to increase our global market share”, Patil said.
Karnataka has established a strong aerospace and defence ecosystem with 25 per cent of India’s aircraft and spacecraft industry based in the state and 67 per cent of all aircraft and helicopters manufactured for defence services are done here while contributing to 65 per cent of the country’s aerospace-related exports from India, the Minister noted.
Patil has also announced that Mysore Sales International Ltd (MSIL) is currently in the midst of a transformation with plans to establish 100 premium liquor outlets across the State.
“The initial phase of this initiative will see the launch of 30 outlets, including 10 strategically located in various parts of Bengaluru city,” he said. Additionally, enhancements are being implemented in the management of the MSIL chit-fund. The Lekhak notebook brand is also set to undergo revitalisation, according to Patil.
