Telangana eyes 2,500 cr investment in aerospace
Telangana which counts aerospace & defence among its focused areas for industrial developments is looking to attract over Rs 2,500 crore investments in the twin sectors over the next four years.
Plans to develop three new aerospace parks around Hyd
Hyderabad: Telangana which counts aerospace & defence among its focused areas for industrial developments is looking to attract over Rs 2,500 crore investments in the twin sectors over the next four years.
“Telangana has been able to get investments to the tune of Rs 1,000 crore in aerospace and defence manufacturing sectors in the last one year. We hope to get additional Rs 2,500 crore investments in next four years by which time the State will have three new aerospace parks in addition to the existing one,” said Arvind Kumar, Secretary, Industries & Commerce, Telangana, on Friday.
He was interacting with media after announcing details of the second Defence & Aerosupply India conclave which is set to commence in the city on November 30. The TS hosted first edition of the event last year. The new aerospace parks will be located along the Out Ring Road and one of them will come up in 500 acres near the existing one of similar size in Adibatla. The other two will be of 200 acre each. “We are in the process of identifying the lands for the two,” Kumar said.
To give further fillip to these fast growing sectors, Telangana is formulating an exclusive defence and aerospace industrial policy which will offer additional incentives and benefits over and above that are already being offered in the industrial policy announced by the government recently.
“We expect Telangana to become national hub for aerospace and defence sectors. So, we need to create necessary eco-system and policy measures for that,” he said. On the current investment proposals, E Venkat Narasimha Reddy, Vice-Chairman and MD, Telangana Industrial Infrastructure Corporation Limited (TSIIC), said Bharat Forge, a part of Kalyani Group, would set up a joint venture in defence space with an investment of Rs 500 crore.
He further said the second edition of Defence & Aerosupply India conclave would focus on next generation technology, innovation and skill development. Global aerospace majors such as Airbus, Sikorsky and Embraer are scheduled to take part in three-day event being organised by Kenes Exhibition in partnership with Telangana government.
An important feature at the conclave will be the presence of a large French delegation from Bordeaux Aeronuatics which is expected to sign a deal with Telangana government for setting up aviation academy. “The Government will finalize its defence policy shortly based on the deliberations at the three-day global conclave. We have also studied different incentives offered by neighbouring states to stay competitive,” Reddy maintained.