Karnataka has set an ambitious target to nearly double its defence exports to ₹25,000 crore by 2025, said Large and Medium Industries Minister M.B. Patil here on Friday.
Speaking at the 36th National Convention of Aerospace Engineers and National Seminar on “SPACE - Boundless Opportunities”, hosted by the Karnataka State Centre of the Institution of Engineers (India), he said the State was also aiming to attract investments to the tune of ₹45,000 crore in the aerospace and defence sector during the policy period of 5 years (2022-2027) and this would generate 60,000 direct and indirect jobs.
“Though India’s space programme is among the most advanced, it occupies only a small fraction of the global space economy,’‘ he explained. According to Mr. Patil, the State has already established a strong aerospace and defence ecosystem with 25% of India’s aircraft and spacecraft industry based in the State and 67% of all aircraft and helicopters manufactured for defence services are done here while contributing to 65% of the country’s aerospace-related exports from India.