BSY woos US investors aerospace biz in State

BSY woos US investors aerospace biz in State

Speaking after receiving a delegation of the US-India Business Council (USIBC), Yeddyurappa said in a bid to give further impetus to aerospace sector, the state government is setting Bangalore Aerospace Park (BAP) in 984 acres, adjacent to Bangalore International Airport (BIA).

The BAP would comprise 252 acres of Special Economic Zone (SEZ), the chief minister said.
There was ample scope for increasing the presence of US companies in Karnataka, he said and promised that all assistance would be extended to them.

Potential of $100 billion

Chief Secretary S V Ranganath said the state government expected investment to the tune of $100 billion dollars in the aerospace sector over the next 10 years.

The State provided a conducive environment for investment, Ranganath said, citing a recent
Federation of Indian Chamber of Commerce and Industry (CII) report, according to which 90 per cent of foreign investors in Karnataka expressed their desire to invest again.

Industries Department Principal Secretary V P Baligar said the state government was looking at setting up an Aerospace University to ensure availability of trained manpower and higher research capabilities in the aerospace field.

Admiral (rtd) of the US Navy, Walter P Doran, mission leader, USIBC, said US companies looked for deeper defence relationship with India to address global security needs.
He expressed confidence that more US companies would come forward to invest in the State, especially in the aerospace sector in the future.

The USIBC was formed in 1975 as part of the joint effort of the Government of India and the US Government to advance commercial ties between the two countries.