UAE Minister of K’taka makes strong plea for state investment

UAE Minister of K’taka makes strong plea for state investment

Bangalore: Seeking to highlight its dominant position in the aerospace and defense sectors, the government of Karnataka strongly advocated for more foreign investment in these sectors at the World Dubai Expo 2020.

Delivering a keynote address on Sunday at the session on “Opportunities in Karnataka’s Aerospace, Defense and Space Sector” at Dubai Expo 2020, Minister of Large and Medium Industries Murugesh Nirani said the State had great potential in these sectors.

“Karnataka, in addition to 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, ”said Nirani.

Highlighting the thriving small industries many of which are ancillary to the aerospace and defense sector, Minister Nirani 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, ”Nirani added.

The Minister praised the Dubai Expo 2020 for providing a forum for states, business leaders and other stakeholders to meet, interact and collaborate. “I have no doubts that the dialogues and the exchange of ideas that started on this platform will continue and lead to wonderful results that we can witness. I am confident that future Indian start-ups will learn from the experiences of seasoned players and use their journey as a guide for their decisions going forward, ”said Nirani.

Earlier today, he hosted a series of Business to Government (B2G) meetings with trade delegations from top companies at the Karnataka Pavilion at Dubai Expo 2020 here. The Minister, who is keen to make the most of the event in his busy schedule, wooed business leaders to invest in Karnataka by educating them about the business ecosystem and the excellent opportunities in the state. .

The Minister held a Business to Government (B2G) meeting with the United Parcel Service (UPS) delegation led by Rachid Fergati, Managing Director, Middle East and Indian Subcontinent, Christina Struller, Vice President of Policy public. UPS is one of the world’s largest parcel delivery companies and a leading provider of global supply chain solutions.

Murugesh Nirani also spoke with Dawood Al Shezawi, Chairman of the Annual Investment Meeting (AIM). Walid Farghal, Managing Director, AIM and others were present. AIM is an initiative of the UAE Ministry of Economy designed to provide a framework for global exchange on the key principles that underpin international investment policies, strategies and practices for sustainable development in order to achieve smart and inclusive global growth.