Chandigarh, May 6: The Haryana government on Friday accorded approval to its aerospace and defence production policy to spur industrial growth in the sector and place emphasis on creation of an end-to-end ecosystem.
The Haryana Aerospace and Defence Production Policy, 2022, aims at attracting investments of at least 1 billion USD and provide employment opportunities to around 25,000 people in five years, according to a statement from the government.
Besides, the policy will help position the state as the country’s leading aerospace and defence manufacturing hub. Setting up Aerospace and Defence University is also mooted, it said after the decision by the state cabinet, which met here under the chairmanship of Chief Minister Manohar Lal Khattar.
“Since India has the third largest armed forces and the third highest defence expenditure in the world and has spent approximately 3 per cent of its GDP in 2020, this policy is needed to indigenise the aerospace and defence production in the state that will help in building a domestic ecosystem for the aerospace and defence industry,” the statement read.
It said the policy envisages harnessing Haryana’s inherent strength in auto components and automobile manufacturing sector, which now looks forward to a possible transition into aerospace and defence manufacturing across various aspects — infrastructure augmentation, attractive fiscal incentives, human capital development, strengthening connectivity – to enhance Ease of Doing Business in the state.
It also looks to leverage opportunities arising out of changes in the global economic order and to align the state’s growth in the sector with national initiatives such as the ‘Atmanirbhar Bharat Mission’, the government said.
Through this policy, Haryana is committed to taking various steps to support human capital development such as curriculum development, research and innovation, scholarship programme and setting up flying schools amongst others, the statement said.
This policy will also address the need to create a world-class maintenance, repair and overhaul (MRO) facility in Haryana. Growth in the aviation sector necessitates the development of adequate number of such facilities for aircraft operating in the country, it added.
The state government will facilitate and incentivise proposals for setting up new MRO facilities at existing airports or at new locations in Haryana.
The government said the policy places a special emphasis on the development of Micro, Small and Medium Enterprises (MSME) sector and its business growth, and it envisages bringing up a paradigm shift from being a regulator to a facilitator of MSMEs, it said. (PTI)
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