Investment reaffirms the state's commitment to becoming a premier destination for aerospace and defence manufacturing
Kurnool: The Andhra Pradesh Economic Development Board (APEDB) signed Memorandums of Understanding (MoUs) with four leading aerospace and defence companies at the AeroIndia 2025 event on Monday.
This is seen as a major step towards strengthening the state's industrial ecosystem. Industries and commerce minister TG Bharath said the agreements promised a total investment of Rs 2,458.84 crore in AP and could generate over 8,000 direct and indirect jobs.
The strategic partnerships include Sagar Defence Engineering Pvt Ltd, a pioneer in maritime defence and unmanned surface vehicle technologies; HFCL, a key player in defence manufacturing; Media Matrix Worldwide Ltd; and another company that specializes in space technology components.
The MoUs were formalized in the presence of minister Bharath, along with secretary to government N Yuvaraj and senior representatives from the state government and the partnering companies in Bengaluru.
This investment reaffirms the state's commitment to becoming a premier destination for aerospace and defence manufacturing in India. The collaborations are expected to drive technological advancements, encourage innovation and build a robust industrial base. “This would help position AP as a key player in India's growing aerospace and defence sector,” the minister explained.
APEDB’s initiative is part of a larger effort by the state and central governments to boost industrial growth and create job opportunities, he added.
