Aerospace sector to attract $12.5 b investment: CM

Karnataka Chief Minister H D Kumaraswamy on Thursday said aerospace manufacturing sector has the potential to generate $12.5 billion investment in the state.

Inaugurating the 19th edition of IMTEX exhibition 'IMTEX 2019', Kumaraswamy said the state government has already announced an aerospace policy to give a boost to the sector.

"It has identified investment potential of around $12.5 billion in the sector from 2013 to 2023. The government also plans to develop aerospace clusters in various regions in the state," he said.

The chief minister also said 'Compete With China' is the government's new initiative which aims to pave the way for large scale industrial investment which will create lakhs of jobs.

"We have already identified Bidar, Kalaburagi, Hassan, Koppal, Ballari, Chitradurga, Tumkuru, Chikkaballapura and Mysuru districts for setting up of industrial clusters," he said. Kumaraswamy also pointed out that Karnataka and Bengaluru have made its mark as a startup and biotech hub as well.

"IMTEX entered Bengaluru 12 years ago. The exhibition has been a gateway for attracting investments in Karnataka since then,” he added.

The IMTEX 2019 and 21st edition of the Tooltech ‘Tooltech 2019’ are organised by Indian Machine Tool Manufacturers’ Association (IMTMA). It is attracting global and Indian players in the manufacturing field along with top management, workforce and academia in the manufacturing field.

Minister for Revenue R V Deshpande and Minister for Large and Medium Scale Industries K J George also attended the event.

Partnership

Bharat Fritz Wener Ltd (BFW), a leading machine tool manufacturer in the country, on Thursday announced its collaboration with Universal Robots and Wipro.

Speaking to DH, BFW Managing Director Ravi Raghavan said the partnership with Universal Robots and Wipro is mainly to come up with innovative solutions for SMEs.

"Indian manufacturing industry is going through transformation as digital, robotics and 3D printing are making deep impact. The partnership with Universal Robots and Wipro will further enhance productivity, streamline processes and reduce human intervention," he said.