Industries Minister Murugesh Nirani on Sunday said that the Karnataka Aerospace and Defence Policy (2022-207), which aims to establish the State as the preferred investment destination for aerospace and defence manufacturing, will be ready by the three-day global investors meet starting on November 2.
Under the policy, the State will develop five aerospace and defence hubs in Bengaluru, Belagavi, Mysuru, Tumakuru, and Chamarajanagar.
“The policy aims to attract investments to a tune of ₹60,000 crore in the aerospace and defence sector during the five-year policy period, and to create additional employment opportunities of more than 70,000. It will also develop Karnataka as a manufacturing hub, including MRO and space applications for both Indian market and exports,” the Minister said in a note released here on Sunday.
