In a significant development in Telangana, the Tata group and Lockheed Martin joined hands to manufacture wings for war flights from Hyderabad. IT and Industries Minister KT Rama Rao who attended the inaugural of the event has welcomed this joint venture of the business honchos as a significant movement to push the industrial and aerospace sector to a new high. Rao expressed pleasure and offered all support to Tatas and Lockheed Martin in their future business partnerships.
The minister claimed that Telangana made significant development in industry and other sectors in five years. Telangana, which has been seeing significant development in the aerospace and defence sectors, will surely push further joint ventures by the Tata group and Lockheed.
The Telangana government secured an award from the Centre in the aerospace and civil aviation sector, he said, adding that the new JV will promote “Made in Hyderabad and Made in India to deliver its 16 wings for fighter flights.
It proves the mettle and manufacturing capabilities of the State and the country,” he said.
The minister attributed the progressive policies of the government such as TS IPASS to give a single-window method of giving all permissions in two weeks to the companies to foray in with investments to partner with the State growth plan.
The State provides world-class infrastructure support, suitable manpower to varied businesses besides getting rankings in FDIs from France, UK, US and others in 2020-21, he added.
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