The state Cabinet has approved certain amendments to the Karnataka Aerospace Policy 2013-23 for relaxation of certain restrictions in a bid to attract more investments in the aerospace sector.
As per the existing policy, aerospace projects could be taken up only on around 200 acres of land (aerospace park) in the IT Park in Devanahalli. Now, this restriction will be relaxed.
The Commerce and Industries department, which has sought the amendments, said that there was scope to increase concessions and incentives to the companies evincing interest to set shop in the state.
Briefing the media, Law and Parliamentary Affairs Minister T B Jayachandra said that Karnataka had already established itself as a leading spare parts manufacturing hub, and wished to maintain its dominance over the market.
The proposal for relaxation of the restrictions had been approved with a view to position Karnataka as a leading aerospace hub in Asia and top defense production destination in India, he said.
Jayachandra said that during this year's Global Investors Meet, the state attracted investments of Rs 14,520 crore through 33 proposals.
While a helicopter hub is coming up at Gubbi in Tumakuru, the Aeronautical Test Range (ATR) of the Defence Research and Development Organiasation (DRDO), is coming up near Challakere in Chitradurga district. Also, Mysuru and Belagavi had emerged as leading aerospace spare parts manufacturing hubs.
"Countries like France and the US are depending on Karnataka for spare parts. We want to continue our leadership in this sector and bring in more investments," he added.
Jayachandra said that when the Karnataka Aerospace Policy 2013-23 was announced in February 2013, the Industrial Policy 2009-14 was in force, but not any more. As several aspects of Karnataka Industrial policy 2009-14 and 2014-19 were overlapping with the Aviation Policy, amendments were suggested for the latter to bring about a clear distinction.
The Commerce and Industries department has proposed special incentives for development of Maintenance, Repair and Operation (MRO) segment in a bid to create a world-class MRO facility in Bengaluru, Mysuru and other viable locations on a PPP model.
The department has also proposed to attract global tier-1 suppliers to the state. It has also argued that the amendments were pertinent as an exclusive Defence Park - a fully integrated defence and aerospace infrastructure facility - was in the process of being established.
The minister said that the Cabinet also approved the proposal to bring in 14 to 19 amendments to the Karnataka Pharmaceutical Policy (part of Karnataka Industrial Policy) in a bid to give impetus to medical device manufacturing enterprises, and to attract more investments in this sector.![]( "The proposal for relaxation of the restrictions had been approved with a view to position Karnataka as a leading aerospace hub in Asia and top defense production destination in India. PTI file photo")
The state Cabinet has approved certain amendments to the Karnataka Aerospace Policy 2013-23 for relaxation of certain restrictions in a bid to attract more investments in the aerospace sector.
As per the existing policy, aerospace projects could be taken up only on around 200 acres of land (aerospace park) in the IT Park in Devanahalli. Now, this restriction will be relaxed.
The Commerce and Industries department, which has sought the amendments, said that there was scope to increase concessions and incentives to the companies evincing interest to set shop in the state.
Briefing the media, Law and Parliamentary Affairs Minister T B Jayachandra said that Karnataka had already established itself as a leading spare parts manufacturing hub, and wished to maintain its dominance over the market.
The proposal for relaxation of the restrictions had been approved with a view to position Karnataka as a leading aerospace hub in Asia and top defense production destination in India, he said.
Jayachandra said that during this year’s Global Investors Meet, the state attracted investments of Rs 14,520 crore through 33 proposals.
While a helicopter hub is coming up at Gubbi in Tumakuru, the Aeronautical Test Range (ATR) of the Defence Research and Development Organiasation (DRDO), is coming up near Challakere in Chitradurga district. Also, Mysuru and Belagavi had emerged as leading aerospace spare parts manufacturing hubs.
"Countries like France and the US are depending on Karnataka for spare parts. We want to continue our leadership in this sector and bring in more investments,” he added.
Jayachandra said that when the Karnataka Aerospace Policy 2013-23 was announced in February 2013, the Industrial Policy 2009-14 was in force, but not any more. As several aspects of Karnataka Industrial policy 2009-14 and 2014-19 were overlapping with the Aviation Policy, amendments were suggested for the latter to bring about a clear distinction.
The Commerce and Industries department has proposed special incentives for development of Maintenance, Repair and Operation (MRO) segment in a bid to create a world-class MRO facility in Bengaluru, Mysuru and other viable locations on a PPP model.
The department has also proposed to attract global tier-1 suppliers to the state. It has also argued that the amendments were pertinent as an exclusive Defence Park - a fully integrated defence and aerospace infrastructure facility - was in the process of being established.
The minister said that the Cabinet also approved the proposal to bring in 14 to 19 amendments to the Karnataka Pharmaceutical Policy (part of Karnataka Industrial Policy) in a bid to give impetus to medical device manufacturing enterprises, and to attract more investments in this sector.
As per the existing policy, aerospace projects could be taken up only on around 200 acres of land (aerospace park) in the IT Park in Devanahalli. Now, this restriction will be relaxed.
The Commerce and Industries department, which has sought the amendments, said that there was scope to increase concessions and incentives to the companies evincing interest to set shop in the state.
Briefing the media, Law and Parliamentary Affairs Minister T B Jayachandra said that Karnataka had already established itself as a leading spare parts manufacturing hub, and wished to maintain its dominance over the market.
The proposal for relaxation of the restrictions had been approved with a view to position Karnataka as a leading aerospace hub in Asia and top defense production destination in India, he said.
Jayachandra said that during this year's Global Investors Meet, the state attracted investments of Rs 14,520 crore through 33 proposals.
While a helicopter hub is coming up at Gubbi in Tumakuru, the Aeronautical Test Range (ATR) of the Defence Research and Development Organiasation (DRDO), is coming up near Challakere in Chitradurga district. Also, Mysuru and Belagavi had emerged as leading aerospace spare parts manufacturing hubs.
"Countries like France and the US are depending on Karnataka for spare parts. We want to continue our leadership in this sector and bring in more investments," he added.
Jayachandra said that when the Karnataka Aerospace Policy 2013-23 was announced in February 2013, the Industrial Policy 2009-14 was in force, but not any more. As several aspects of Karnataka Industrial policy 2009-14 and 2014-19 were overlapping with the Aviation Policy, amendments were suggested for the latter to bring about a clear distinction.
The Commerce and Industries department has proposed special incentives for development of Maintenance, Repair and Operation (MRO) segment in a bid to create a world-class MRO facility in Bengaluru, Mysuru and other viable locations on a PPP model.
The department has also proposed to attract global tier-1 suppliers to the state. It has also argued that the amendments were pertinent as an exclusive Defence Park - a fully integrated defence and aerospace infrastructure facility - was in the process of being established.
The minister said that the Cabinet also approved the proposal to bring in 14 to 19 amendments to the Karnataka Pharmaceutical Policy (part of Karnataka Industrial Policy) in a bid to give impetus to medical device manufacturing enterprises, and to attract more investments in this sector.
The state Cabinet has approved certain amendments to the Karnataka Aerospace Policy 2013-23 for relaxation of certain restrictions in a bid to attract more investments in the aerospace sector.As per the existing policy, aerospace projects could be taken up only on around 200 acres of land (aerospace park) in the IT Park in Devanahalli. Now, this restriction will be relaxed.
The Commerce and Industries department, which has sought the amendments, said that there was scope to increase concessions and incentives to the companies evincing interest to set shop in the state.
Briefing the media, Law and Parliamentary Affairs Minister T B Jayachandra said that Karnataka had already established itself as a leading spare parts manufacturing hub, and wished to maintain its dominance over the market.
The proposal for relaxation of the restrictions had been approved with a view to position Karnataka as a leading aerospace hub in Asia and top defense production destination in India, he said.
Jayachandra said that during this year’s Global Investors Meet, the state attracted investments of Rs 14,520 crore through 33 proposals.
While a helicopter hub is coming up at Gubbi in Tumakuru, the Aeronautical Test Range (ATR) of the Defence Research and Development Organiasation (DRDO), is coming up near Challakere in Chitradurga district. Also, Mysuru and Belagavi had emerged as leading aerospace spare parts manufacturing hubs.
"Countries like France and the US are depending on Karnataka for spare parts. We want to continue our leadership in this sector and bring in more investments,” he added.
Jayachandra said that when the Karnataka Aerospace Policy 2013-23 was announced in February 2013, the Industrial Policy 2009-14 was in force, but not any more. As several aspects of Karnataka Industrial policy 2009-14 and 2014-19 were overlapping with the Aviation Policy, amendments were suggested for the latter to bring about a clear distinction.
The Commerce and Industries department has proposed special incentives for development of Maintenance, Repair and Operation (MRO) segment in a bid to create a world-class MRO facility in Bengaluru, Mysuru and other viable locations on a PPP model.
The department has also proposed to attract global tier-1 suppliers to the state. It has also argued that the amendments were pertinent as an exclusive Defence Park - a fully integrated defence and aerospace infrastructure facility - was in the process of being established.
The minister said that the Cabinet also approved the proposal to bring in 14 to 19 amendments to the Karnataka Pharmaceutical Policy (part of Karnataka Industrial Policy) in a bid to give impetus to medical device manufacturing enterprises, and to attract more investments in this sector.