The company said the aim was to accelerate indigenisation of defence manufacturing since India - among the world's top five defence spenders - still satisfies 60 per cent of all its requirements through imports.
Terming the proposed hub as an ideal location for defence sector related production, it said major defence PSUs like Hindustan Aeronautics Ltd, Bharat Electronics Ltd, Bharat Earth Movers Ltd and Defence Research and Development Organisation were located 50-60 km from Hosur.
The project, a joint venture between GMR Group and Tamil Nadu Industrial Development Corp, will come up on 600 acres of land already made available for immediate occupation, said the Group's Business Chairman - Transportation & Urban Infrastructure B.V.N. Rao.
The hub also has the advantage of the established ecosystem of Hosur, 700-plus MSMEs engaged in precision engineering in the region besides proximity to Bengaluru which would ensure ready access to skilled manpower.
"This hub can potentially be a game-changer for the region. We will provide all necessary infrastructure facilities to attract global majors to set up their manufacturing facilities here," Rao said.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
