Hyderabad: In an attempt to attract foreign companies in defence and aerospace sectors, the Telangana State government on Tuesday announced new aerospace parks at Warangal and Hyderabad.“The proposed aerospace park in Hyderabad will be spread over an area of 1000 acres which is expected to give a fillip to the state’s defense industry,” said Telan-gana’s special chief secretary and commissioner for industrial promotion and mines K. Pradeep Chandra. This will be the third aerospace park in the state after two in Adibatla.
Mr Chandra was speaking at an event organised to announce a three-day defence and aerospace conference Defence and Aerosupply India — organised by the government along with Kenes Exhibitions.Global majors including Airbus, Boeing, Schneider, are expected to participate in the conference.
“The defence industry in India is growing in double digits and the government spending is expected to triple in size in the next 15-20 years,” said Mr Chan-dra, adding, “India currently spends $22-$25 billion a year in its defence.”With Prime Minister Narendra Modi pledging to “buy Indian”, domestic companies are entering into the defence sector in partnership with foreign defence equipment makers and are pouring in billions of dollars in the anticipation of bigger returns.
