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Aerospace sector to attract $12.5b

Aerospace sector to attract $12.5b

A visitor looks at machines displayed at the IMTEX exhibition in Bengaluru on Thursday.

Bengaluru, DHNS: Karnataka Chief Minister H D Kumaraswamy on Thursday said the aerospace manufacturing sector has the potential to generate $12.5 billion investment in the state.

Inaugurating the 19th edition of IMTEX exhibition ‘IMTEX 2019’, Kumaraswamy said the state government has already announced an aerospace policy to give a boost to the sector.  “It has identified investment potential of around $12.5 billion in the sector from 2013 to 2023. The government also plans to develop aerospace clusters in various regions in the state,” he said, adding ‘Compete With China’ is the government’s new initiative which aims to pave the way for large scale industrial investment. “We have already identified Bidar, Kalaburagi, Hassan, Koppal, Ballari, Chitradurga, Tumkuru, Chikkaballapura and Mysuru districts for setting up of industrial clusters,” he said.

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