Foreign investments

K’taka makes strong plea for more foreign investment at Dubai Expo 2020

Underlining the “dominant position” of Karnataka in the aerospace and defense sector, the state government on Sunday made a strong plea for more foreign investment in these sectors, during the Dubai Expo 2020 .

In a keynote address at the session on Opportunities in the Aerospace, Defense and Space Sectors of Karnataka at Dubai Expo 2020, the Minister of Large and Medium Industries, Murugesh Nirani, pointed out that the State had great potential in these sectors, its office said in a statement. Karnataka, besides being the largest aerospace cluster in India, is also the 2nd largest producer of heavy electrical machinery in India. Bengaluru alone produces around 60% of the machine tools in India. Our state is also the second largest chip design center in the country. We have established a Center of Excellence in partnership with Dassault Systems to provide an industry-ready workforce, he said. Highlighting the thriving small industries many of which are ancillary to the aerospace and defense sector, the minister said the state is providing a support system to push these sectors. Karnataka has a solid base of around 2,000 SMEs that perform niche subcontracting work in the aerospace and defense sector. Therefore, the well-developed support system for the sector has further facilitated the expansion of this industry while attracting global players to settle in our state, he added. The minister held a series of Business to Government (B2G) meetings earlier today with trade delegations from major companies at the Karnataka pavilion at Dubai Expo 2020, the statement said. The Minister held a Business to Government (B2G) meeting with a delegation from United Parcel Service (UPS), which is one of the largest parcel delivery companies in the world and a leading provider of chain solutions. global supply. He also spoke with Dawood Al Shezawi, chairman of the Annual Meeting on Investment (AIM), which is an initiative of the UAE Ministry of Economy. B2G meetings were also held with a delegation from Lulu Group – who responded positively to Nirani’s suggestions to create Lulu markets across Karnataka, the delegation from Export Bahrain and Taghleef Industries – one of the world’s largest manufacturers. of BoPP films, the statement added.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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