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Defence exports target set at Rs 25,000 cr by 2025: MB Patil
Large Industries and District In-charge Minister MB Patil
The state government has set a target of nearly doubling its defence production by 2025 and increasing defence exports to Rs 25,000 crore by then, Large and Medium Industries Minister MB Patil said on Friday.
Bengaluru: The state government has set a target of nearly doubling its defence production by 2025 and increasing defence exports to Rs 25,000 crore by then, Large and Medium Industries Minister MB Patil said on Friday.
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), he stated that it has also been aimed to attract investments of ₹45,000 crores in the aerospace and defence sector during the policy period of 5 years (2022-2027) and this would generate 60,000 employment opportunities(including direct and indirect).
He added 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.
“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 explained.
Saying the trajectory of space technology has far-reaching implications, he added Karnataka has established a strong aerospace and defence ecosystem with 25% of India’s aircraft and spacecraft industry based in the state and 67% of all aircraft and helicopters manufactured for defence services are done here while contributing to 65% of the country’s aerospace-related exports from India.
