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Hyderabad best destination for aerospace investments: KTR
TS Industries Minister leads Aerospace & Defence Roundtable in Washington DC
Hyderabad: Telangana IT and Industries Minister KT Rama Rao led the Aerospace and Defense Roundtable in Washington DC, US. The event garnered participation from prominent US majors, advisory firms, think tanks and startups, creating a dynamic platform for discussion and collaboration.
At the roundtable, the Minister showcased the spectacular growth of the aerospace sector and private sector defense investments in Telangana in the past nine years making Hyderabad the most preferred investment destination for US aerospace &defense corporations.
Stating that aerospace and defense is a thrust sector in Telangana, KTR proudly shared that Telangana has achieved a remarkable feat by winning the Best State awards for aerospace for three years in 2018, 2020 and 2022. Hyderabad was also top ranked aerospace city of future in cost effectiveness parameter by financial times FDI rankings 2020-21. These recognitions reflect the State's progressive outlook towards the aerospace sector. Industry leaders who have their presence in Hyderabad recounted how progressive and approachable Telangana government and its leadership is and reassured further investments in the State as they are preparing to engage more Indian partners in key defense supply chains. Safran has recently inaugurated their aero engine parts manufacturing facility and announced the first Engine MRO by an OEM in India in Hyderabad. The manufacturing ecosystem is supported by 1000 plus MSMEs exclusively into Aerospace and Defense manufacturing, many of whom are already integrated into the global supply chains of the OEMs.
On the same day, the minister met with senior leaders of Lockheed Martin Corporation – Ray Piselli, VP International Business and Global Business Development and Dave Sutton, Director for International Government Affairs on ongoing manufacturing programmes in Hyderabad and new programmes in pipeline.
After the meeting, he said: "Glad to note that Lockheed is planning their next supply chain meet in Hyderabad and is actively speaking to several Telangana based MSMEs and startups for fruitful collaborations."