Bangalore: The ambitious and exclusive Aerospace Policy, which the State government has been planning for a while, will be unveiled in the last week of January 2013. Mr M Maheswara Rao, Commissioner for Industries, said the first-of-its-kind policy in the country intends to position the State as a major aerospace hub in Asia, with onus on Bangalore. “The Karnataka Aerospace Policy (2012-2022) will be unveiled in time, before the commencement of Aero India 2013,” he said. Noting that the policy will be implemented in two phases, he said, it intends to attract an estimated investment of Rs 24,000 crore in the aerospace sector and create 40,000 jobs. During this period, there is a target to increase the contribution of aerospace sector towards enhancing the share of industry in the State GDP from 28 per cent to 30 per cent. During phase-II (2017-22), the policy intends to attract investment to the tune of Rs 36,000 crore and create 60,000 jobs. Mr Rao said the main objectives of the policy is to make Karnataka a global destination for manufacturing aircraft, systems and components, develop the micro, small and medium enterprises (MSME), the maintenance, repair, and overhaul (MRO) sector and harness human resources by involving the academia.
Source: Deccan Herald