Karnataka: The New MRO Capital of Asia
Karnataka has succeeded in converting over 62% of its Rs 5.56 lakh crore manufacturing sector investment commitments into tangible project proposals. This signifies the state's proactive engagement with investors. Karnataka aims to become a hub of industrial innovation while promoting sustainability and balanced regional development through its new industrial policy.
- Country:
- India
Karnataka has achieved a significant milestone by converting 62% of its manufacturing sector investment commitments into actionable project proposals. These investments, initially promised during the Global Investors Meet, now amount to Rs 3.4 lakh crore in formal applications, as stated by Industries Minister M B Patil.
With companies like Krones and TASL underway, and the presence of MRO facilities by both IndiGo and Air India, Karnataka is on track to become the 'MRO Capital of Asia'. The state's focused post-MoU engagement strategy is ensuring that these commitments are fully realized.
The new State Industrial Policy emphasizes sustainability and balanced regional growth, offering incentives for local employment and R&D activities. This aligns Karnataka with global trends, positioning it as a key player amid the worldwide China+1 strategy and industrial relocations.
(With inputs from agencies.)
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