Bangalore, which has been a hub for aircraft development for long, is seeing more investments coming into the aerospace sector on the back of an ecosystem of component makers and research institutes the city is home to.
As many as eight new projects, that will entail an investment of Rs 885 crore, were finalised during the two-day Global Investors Meet in Bangalore, according to the state’s commerce & industries department.
“Bangalore, being the nerve centre of the aerospace sector, gives Karnataka an edge as the preferred destination for ventures in aerospace,” said Ashok Nayak, chairman, Hindustan Aeronautics Ltd (HAL). “The state also provides a well developed IT sector which is vital for aerospace.”
Automobile maker Mahindra and Mahindra Ltd, which is building a five- seat plane along with India’s National aerospace Laboratories for the global market, was among the companies that indicated an interest in investing in the state, said chief minister BS Yeddyurappa. Bangalore will also be the hub for India’s ambitious civil aircraft programme?the regional transport aircraft.
The state is home to the only aerospace SEZ, set up in Belgaum by engineering firm Quest Global. The government is also setting up an aerospace SEZ at Devanahalli, near the Bangalore International Airport.
Bangalore’s expertise in the sector began decades ago with the setting up of defence aircraft and avionics development centres such as HAL and several Defence Research and Development Organisation (DRDO) labs, besides research institutes like Indian Institute of Science (IISc), which helped nurture component manufacturers.
Over the past decade, however, several research centres have come up in the city, including those set up by aircraft manufacturers Airbus and Boeing, apart from collaborations between aerospace companies and institutes such as IISc for research in future technologies.