Hyderabad, May 20 (KNN) Telangana's Minister for Industries and Information Technology K.T. Rama Rao said that  Hyderabad has become the preferred investment destination for US aerospace and defence companies.

Rao during his US visit led the aerospace and defense roundtable in Washington DC, where prominent US majors, advisory firms, think tanks, and startups participated, according to a statement from the minister's office in Hyderabad.

During the roundtable, the minister showcased the spectacular growth of the aerospace sector and private sector defence investments in Telangana in the past nine years.

Stating that aerospace and defence is a thrust sector in Telangana, he said that Telangana has achieved a remarkable feat by winning the best state awards for aerospace for three years in 2018, 2020, and 2022. 

“Hyderabad was also ranked No 1 Aerospace city of Future in Cost effectiveness parameter by Financial Times FDI rankings 2020-21. These recognitions reflect the State's progressive outlook towards the aerospace sector,” he said.

As per reports, Telangana hosts multiple production lines for US majors including Lockheed Martin joint venture with Tata group that manufactures and exports Sikorsky helicopter cabins, C130 J empennages and F 16 Wings. 

The manufacturing ecosystem is supported by 1000 plus MSMEs exclusively into aerospace and defence manufacturing, many of whom are already integrated into the global supply chains of the OEMs, Rao added.

Telangana has created several dedicated aerospace and precision engineering clusters with world class infrastructure. 

During his trip, KTR met Lockheed Martin Corporation senior leaders Ray Piselli, VP International Business and Global Business Development and Dave Sutton, Director for International Government Affairs on ongoing manufacturing programmes in Hyderabad and new programmes in pipeline.  (KNN Bureau)