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Jobs Takeoff with Tata-Karnataka Pact: 1,650 Opportunities in Aerospace, Defense

19 Feb 2024 , 03:11 PM

On February 19, the Karnataka government took a significant step forward by signing a memorandum of understanding (MoU) with the Tata group of companies, marking investments totaling ₹2,300 Crore. This collaborative effort between Air India and Tata Advanced Systems Limited (TASL) is poised to create substantial employment opportunities for 1,650 individuals.

Under the MoU, Air India intends to establish a state-of-the-art maintenance, repair, and overhaul (MRO) facility, designating Bengaluru as the hub in South India. This ambitious project, with an investment of approximately ₹1,300 Crore, is expected to directly employ 1,200 people.

Additionally, TASL has committed to investing in three pivotal projects near Bengaluru Airport and in Kolar, amounting to a total investment of ₹1,030 Crore. These ventures include a passenger to freighter aircraft conversion facility, a gun manufacturing facility, and aerospace & defense research and development initiatives in Karnataka. These projects are anticipated to create direct employment for 450 individuals.

Moreover, TASL's plan for the gun manufacturing facility emphasizes sourcing over 50% of its parts from Karnataka, paving the way for employment opportunities for thousands of people through various Small and Medium Enterprises (SMEs).

A study by the National Council of Applied Economic Research (NCAER) indicates that the establishment of these hubs is poised to significantly boost passenger traffic by 8 million passengers per annum (MPPA). This, in turn, will create direct and indirect employment opportunities for 25,000 – 26,000 people, attributed to increased business activity, support staff, and enhanced tourism in Karnataka.

Highlighting the state's rich aviation legacy, Karnataka's heavy and medium industries minister, MB Patil, underscored the historical significance of Bengaluru as a hub for aerospace and defense. He emphasized that Karnataka contributes substantially to India's aerospace and defense sector, boasting a significant share of the country's experts and export turnover.

With the presence of key officials and stakeholders from both government and industry, the signing ceremony witnessed the convergence of efforts to propel Karnataka's aerospace and defense sector to greater heights. This collaboration is not only poised to drive economic growth but also solidify Karnataka's position as a leader in the aerospace and defense industry on the global stage.

Related Tags

  • Tata Group
  • Tata-Karnataka Pact
  • Tata-Karnataka Pact news
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