Nine Indian firms have submitted investment proposals worth $94.2m to the Karnataka Government to set up manufacturing units in the aerospace / aviation sector.
Among them, Mahindra Aerospace has committed to investing Rs2.84bn ($62.3m) to set up a manufacturing unit for aerospace components, structures and assemblies about 100km from Bangalore, Karnataka.
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Wipro plans to set up a Rs530m ($11.6m) aerospace park, which will be located in an 984-acre area about 40km from Bangalore, according to IANS.
State industry department joint director TK Swaroopa said, “The companies made the investment proposals at the five-day Aero India [2011 military / civil aviation trade expo] since 9 February where the state government showcased its offerings to woo global majors to invest in the aerospace park.”
UK-based Rolls-Royce, US-based Honeywell and Dassault Aviation from France also met officials to discuss their investment plans to set up or expand their Indian operations.
“Belgian and German aerospace delegations have also met us to explore investment opportunities in the sector,” Swaroopa added.
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By GlobalData
