Karnataka ready with aerospace, defence policy: Karnataka Minister

For the three-day Global Investors Meet (GIM) from November 2, Karnataka Industries Department is ready with an aerospace and defence policy (2022-27). The policy aims to establish the State as the preferred investment destination for aerospace and defence manufacturing, the Karnataka Minister for Large and Medium Industries Minister Murugesh Nirani said in a statement.

He said the Defence Ministry has set a target of 70 per cent self-reliance in weaponry by 2027 thereby creating prospects for industry players to capitalise on.

The key features of the policy include attracting investments to the tune of Rs 60,000 crore (USD 6 billion) in the aerospace and the defence sector during the policy period of five years and create additional employment opportunities and to develop the State as a manufacturing hub, including space applications for both the domestic market and exports, he said.


The Minister, who piloted the policy, said the country's current market size of approximately USD seven billion is expected to grow and reach USD 15 billion by 2032 thus presenting an opportunity for defence electronics players to capitalise on. "Karnataka contributes major share of 40 per cent of defence electronics systems/products. To give a boost, the A&D policy offers huge land and financial incentives packages for space, defence and aerospace manufacturers and other sub-sectors," he said. Nirani emphasised that electronics is the primary capability in modern warfare systems A and the growth in demand for electronics in the nation's aerospace and defence is driven by modernisation of weapon platforms, introduction of state-of-art weapons, impact of indigenisation and make-in-India initiative.