<p>Karnataka’s pioneering formulation of an aerospace policy for 2013-23, and Bengaluru’s robust share of 65 per cent in the country’s aerospace sector, were Chief Minister Siddaramaiah’s marketing tools at the Aero India 2015 inaugural here on Wednesday.<br /><br /></p>.<p>Under the aerospace policy, Karnataka proposed to boost the aerospace infrastructure and offer incentives to the sector, Siddaramaiah explained.<br /><br />Siddaramaiah saw a huge opportunity in the Maintenance, Research and Operations market, since several leading original equipment manufacturers and international airlines were outsourcing work to Indian firms.<br /><br />He said the relatively low cost of aerospace manufacturing, multiplicity of defence public sector units and small and medium-sized enterprises put Karnataka at an advantage in the aerospace sector.<br /><br />The Centre, he informed, had already approved a National Investment and Manufacturing Zone spread across 12,500 acres at Vasanthanarasapura in Tumakuru district. This is besides the sector-specific Aerospace Park at Devanahalli and the country’s first private Aerospace SEZ established in Belagavi.<br /><br />With a total installed power capacity of 14,028 MW in 2014, the State proposed to become power surplus by 2017. He also referred to e-udyami, a completely online-based one-stop shop for all prospective investors. This, he explained, would allow all investors, independent of their location, to apply for investments in Karnataka and monitor project status.<br /><br />The new industrial policy 2014-19 encouraged Non-Resident Indian and Non-Resident Kannadigas’ companies to invest in the State. <br /><br />An early seed capital fund and angel funding for start-ups in collaboration with NRI, NRK companies and organisations has also been proposed, he said. <br /><br />Also in the pipeline were special industrial corridor projects such as the Chennai-Bengaluru-Chitradurga Corridor and the Bengaluru-Mumbai Economic Corridor.<br /><br /></p>
<p>Karnataka’s pioneering formulation of an aerospace policy for 2013-23, and Bengaluru’s robust share of 65 per cent in the country’s aerospace sector, were Chief Minister Siddaramaiah’s marketing tools at the Aero India 2015 inaugural here on Wednesday.<br /><br /></p>.<p>Under the aerospace policy, Karnataka proposed to boost the aerospace infrastructure and offer incentives to the sector, Siddaramaiah explained.<br /><br />Siddaramaiah saw a huge opportunity in the Maintenance, Research and Operations market, since several leading original equipment manufacturers and international airlines were outsourcing work to Indian firms.<br /><br />He said the relatively low cost of aerospace manufacturing, multiplicity of defence public sector units and small and medium-sized enterprises put Karnataka at an advantage in the aerospace sector.<br /><br />The Centre, he informed, had already approved a National Investment and Manufacturing Zone spread across 12,500 acres at Vasanthanarasapura in Tumakuru district. This is besides the sector-specific Aerospace Park at Devanahalli and the country’s first private Aerospace SEZ established in Belagavi.<br /><br />With a total installed power capacity of 14,028 MW in 2014, the State proposed to become power surplus by 2017. He also referred to e-udyami, a completely online-based one-stop shop for all prospective investors. This, he explained, would allow all investors, independent of their location, to apply for investments in Karnataka and monitor project status.<br /><br />The new industrial policy 2014-19 encouraged Non-Resident Indian and Non-Resident Kannadigas’ companies to invest in the State. <br /><br />An early seed capital fund and angel funding for start-ups in collaboration with NRI, NRK companies and organisations has also been proposed, he said. <br /><br />Also in the pipeline were special industrial corridor projects such as the Chennai-Bengaluru-Chitradurga Corridor and the Bengaluru-Mumbai Economic Corridor.<br /><br /></p>
