Chief Minister B S Yediyurappa announced the formalisation of a new aerospace and defence policy while presenting the state budget which he and officials said will substantially revamp the industry ecosystem.
Yediyurappa said that the new policy will help Karnataka maintain its edge in the aerospace and defence sector. “We have the credit of having declared an aerospace policy in 2013, the first in the country. Karnataka has a share of more than 65% of the exports of defence and aerospace sector. To maintain this lead in this sector and to give attention towards indigenous production under the Atma Nirbhar Bharat Abhiyan, a new aerospace and defence policy will be announced,” he announced in the budget speech.
