Aequs India chairman Arvind Melligeri welcomes new aerospace policy of Karnataka

September 06, 2016

BELAGAVI: Arvind Melligeri, CEO & chairman of Aequs India, welcomed the Aerospace Policy 2013-23 with amendments announced by Karnataka government. Couple of days ago, Karnataka became the first state in the country to announce an aerospace policy.

In a release, Melligeri said the amendments to the policy is expected to facilitate more investment in the aerospace sector and can definitely make Karnataka a leading defence production hub not only in the country but further boost to the aerospace and defence sector by offering the required incentives.

The amendments will help Karnataka government to attract a strong foothold for tier-1 suppliers and global maintenance, repair and operations (MRO) in the state.

He said in the recent "Make in India" event held in Mumbai, Karnataka had projected to attract Rs 9.7 lakh crore with investors showing renewed interest in the aerospace and defence sector as well, providing further boost to the players by paving the amendment.

The state government should continue to invest in developing aerospace clusters and SEZs. Exemption from stamp duty and concession that has been offered to aerospace companies should continue, in addition to providing full exemption on basic necessities like electricity and water and tax for aerospace units. To name a few, Gubbi in Tumakuru, Challakere in Chitradurga district, Mysuru and Belagavi have also emerged as leading aerospace spare-part manufacturing hubs.

"Now will the amendments bring impetus in investment and boost in the establishment of Defence Park in the state, is what we have to wait and watch", Melligeri said.

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