Hyderabad to see huge investment in defence sector: CM KCR

Hyderabad: Hyderabad is expected to see huge investments in defence sector in the coming days, Telangana Chief Minister K Chandrasekhar Rao said here on Wednesday.

Addressing the inaugural session of 'Defence & Aerosupply India 2014', a three-day industry conclave, Rao said that the Telangana state government is all set to come out with a new industrial policy during the ongoing Legislative assembly session. The state government is also looking at providing tax reliefs to budding entrepreneurs of the state, he said. Rao said that the Telangana government is awaiting the central government's decision with regard to some concessions in the area of income tax and other central taxes for investors in the state. Israel-based Brightstar Group Chairman David Artzi said that Telangana had magnificent industry ecosystem in the defence and aerospace area and it must focus on promoting it by holding such international conferences.