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The first Special Economic Zone for aerospace in India, which would be developing and manufacturing aerospace precision engineering products, became operational on Saturday in Belgaum. The SEZ has been launched by the Aerospace and engineering firm QuEST Global.
The SEZ was inaugurated by the Aviation Minister Praful Patel. Patel, while addressing the event, mentioned that India is determined to become one of the major aerospace engine destinations.
The SEZ has come up on a 300 acre site at an investment of Rs 150 crore.
"Had India not notched up a faster growth in aviation sector and acquired a large number of aircraft, its capability in aviation engineering would not have been noticed. The offset clause of defence and civilian aircraft purchases had also helped foreign majors to look at us," he said.
Appreciating the role of Karnataka in the initiative, he said "Indian companies based in Bangalore and Mysore have taken up major works for leading international aviation companies".
“It was important that both the Central and state governments facilitate aerospace industries which were positioned well to be the next big players in the sector”, said the Civil Aviation Minister.
Chief Minister of Karnataka B S Yeddyurappa, who was also part of the event, mentioned that "We are in the process of acquiring 5,000 acres of land to develop industrial clusters across the state".
