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Andhra Pradesh seeks to attract Rs. 20,000 crore in defence, aerospace parks

News:

  • Companies including Airbus, Essel Infra and Srei Infra have evinced interest in setting up large defence and aerospace parks in Andhra Pradesh that could lead to investments of thousands of crores of rupees in the state over the next few years.
  • Andhra Pradesh, given its proximity to Bengaluru, the hub of Indian aerospace industry, hopes to attract both domestic and foreign firms to the southern parts of the state.
  • The state offers several advantages such as robust infrastructure, port logistics, large industrial corridors of Chennai-Vizag and Chennai-Bangalore, huge land bank and uninterrupted power supply , apart from attractive tax incentives for industrial investments.

Source: ET

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