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Odisha Government Aerospace and Defence Manufacturing Policy 2018
Odisha Government Aerospace and Defence Manufacturing Policy 2018: Details, Features, Aim, Significance, Highlights
Odisha Government has unveiled an Aerospace and Defence Manufacturing Policy 2018, which is aimed at carrying forward the process of industrialization through the promotion of aerospace and defense manufacturing enterprises, generate employment opportunities and promote value addition.
The proposed policy also aims to leverage subsidy upto 50% of the cost of land, building, plant and machinery to special purpose vehicle (SPV) for setting up first state-of-the-art Aerospace and Defence Park in the state.
The policy will also attract investment in aerospace and defence manufacturing in the Odisha state. This provision is designed to attract key players to set up units in the state. This will provide an impetus for further development of ancillary and downstream units in the state.
Enterprises will come up in industrially backward districts namely Kandhamal, Gajapati and Mayurbhanj along with KBK districts will be extended the additional incentive
The policy will set foundations of Rs. 50 crores for Common Facility Centre, Rs. 30 crores for Technology Innovation Centre and Rs. 25 crores for Testing Centre to be established with private participation.
The policy will also provide capital grants of 50% of infrastructure cost limited to Rs. 10 crores for subsequent aerospace and defense parks.
The policy also extends a capital subsidy of Rs. 100 crore for the first three OEMs (original equipment manufacturer) for setting up manufacturing facilities in the state with an investment of at least Rs. 1000 crore and generating 1000 domiciled employment.
Odisha (India)
Statehood: 1st April 1936 ( Known as Utkala Dibasa or Odisha Day)
Capital: Bhubaneswar
Largest City: Bhubaneswar
Districts: 30
Governor: Ganeshi Lal
Chief Minister: Naveen Patnaik
