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Good news for Maharashtra flies in from Aero India

Soaring Hopes: International firms seek local partners to set up units

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An official statement by Lockheed Martin, a major player in defence technology in the US, has given wings to hope of fresh investment in Maharashtra.

The firm, which unveiled the F-21 at Bengaluru's Aero India Show on Wednesday, said it proposes to produce the multi-role fighter jet in India. Other major international firms have also evinced interest in investing in the defence and aerospace sector in Maharashtra. These companies include Israel's Rafael Advanced Defense Systems Ltd and Israel Aerospace, Airbus Helicopters, Thales Group, SAAB, Adani Group, Bharat Forge and Bharat Electronics. Total investment is likely to be to the tune of Rs 10,000 crore.

"Most of the companies were impressed by the state's defence and aerospace policy and prevailing ecosystem," P Anbalagan, CEO of Maharashtra Industrial Development Corporation (MIDC) told DNA, adding, "They have clearly hinted that Maharashtra is the preferred investment destination, although further decisions will depend on assured demand and the local partner." Anbalagan, who held one-on-one meetings with representatives of these firms on the sidelines of Aero India show, said Maharashtra could become the hub for defence manufacturing.

"The company may prefer Maharashtra as their production base," an official from the state's Industries department said.

"Especially since almost 25 per cent of total ordinance factories in the nation is in the state."

Maharashtra's Defence and Aerospace policy offers reimbursement of stamp duty, the establishment of exclusive industrial townships and rationalisation of industrial laws. Furthermore, the policy envisages financial concessions and incentives to develop indigenous technologies in this sector and establish 'anchor units' to build an ecosystem.

The official said the investment is expected in assembly line production units, manufacturing units for helicopters, commercial MRO (Maintenance Repair and Overhaul) units for civilian aircraft, production of cybersecurity equipment and ancillary units. He said some of these companies also manufacture drones and electronic systems for warfare, including missiles. "Some companies have already partnered with Indian firms, while others are scouting for partners," he added.

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