Hyderabad (Telangana) [India], October 25 (ANI): Telangana Chief Minister A Revanth Reddy announced that the state government will soon unveil its 'Aerospace and Defence Policy 2.0', aiming to attract investments in the defence sector and promote Hyderabad as a leading destination for defence research.

According to the release by CMO, participating in the curtain-raiser programme for 'Raksha Expo', the Chief Minister said the event aims to bring together stakeholders from the defence sector for meaningful dialogue and develop an international platform for collaboration.

Highlighting Hyderabad's strategic importance, Revanth Reddy said the city is home to several research institutions and strategic centres of the Indian Army and Indian Air Force. He also noted that Telangana, despite being the only state in South India without a coastline, provides critical services to the Indian Navy. A Very Low Frequency (VLF) naval radar station is being constructed in Damagundam Reserve Forest in Vikarabad district, he said.

The Chief Minister invited investors to attend the 'Invest Telangana Global Summit', scheduled to be held from December 7 to 9 at Bharat Future City in Hyderabad. He said the first edition of the summit, held last year, was a great success.

Representatives from organisations including DRDO, HAL, BDL, Midhani, the Tata Group, Airbus, Skyroot, Lockheed Martin and Bharat Forge participated in the curtain-raiser programme, according to the release.

Revanth Reddy stressed the need for skilled human resources in the defence sector, citing institutions such as IITs, IIITs, NITs, ISB and BITS. He also highlighted the establishment of Young India Skills University, the upgradation of ITIs into Advanced Training Centres (ATCs) and the presence of incubators in the state.

Stating that India should emerge as a global leader in defence manufacturing, he said the country must transition from importing defence-related technology to exporting it. He called for Telangana to become the country's largest industrial hub for the defence sector, including allied fields such as space, aerospace, cybersecurity, artificial intelligence and drone technology.

The Chief Minister urged investors to double their planned investments in Telangana and assured them of full government support.

Referring to the 'Telangana Rising: Vision 2047' document, he said the state aims to become a USD 1 trillion economy by 2034 and a USD 3 trillion economy by 2047. Telangana currently accounts for over 2.5 per cent of India's population and contributes 5 per cent to the country's GDP, he said, adding that his goal is to increase the state's share to 10 per cent by 2047.

CM Revanth Reddy also said that "Raksha Expo" will serve as a premier platform, bringing together global Original Equipment Manufacturers (OEMs) and Micro, Small, and Medium Enterprises (MSMEs). The government is looking forward to industry representatives, senior defence and security officials, experts, and startups to come forward with innovative ideas and cutting-edge technologies.

Revanth Reddy also said there was no "policy paralysis" in the state and that there was consensus on investment and development despite political differences.

Although political differences exist, there is complete consensus when it comes to investments and development.

'We possessed intelligent, skilled human capital and all the necessary resources. Above all, we have a clear development policy, a firm resolve, and a strong drive to move forward. Let us all work together to transform India into a global leader and a powerful nation in the defence," he said. (ANI)