Bengaluru, Sept 1 Karnataka Large and Medium Industries Minister M.B Patil on Friday said that the state government has set a target of nearly doubling its defence production by 2025 and increasing defence exports to Rs 25,000 crore.
Speaking as a chief guest at the 36th National Convention of Aerospace Engineers on "SPACE - Boundless Opportunities", hosted by the Karnataka State Centre of the Institution of Engineers (India), Patil said that it has also been aimed to attract investments of Rs 45,000 crores in the aerospace and defence sector during the policy period of five years (2022-2027).
He said that it would generate 60,000 employment opportunities (including direct and indirect).
He said that the government was committed to make Karnataka the Aerospace and Defence manufacturing hub, including maintenance, repair, and operations for both the Indian market and exports.
“Though India’s space programme 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.
Saying the trajectory of space technology has far-reaching implications, 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.
He said that 67 per cent of all aircraft and helicopters manufactured for defence services are done in Karnataka while contributing to 65 per cent of the country’s aerospace-related exports from India.
--IANS
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