Kochi: Kerala will have its first aerospace policy in two months with the aim of developing the state as a major hub for the strategic domains of space and related areas in aviation and defence. Kerala Space Park (KSpace) CEO G Levin said that the final draft of the Aerospace Policy is ready, and it will be submitted to the government's review in two weeks.

Levin said that the policy will be in alignment with the schemes and incentives of Kerala's industrial policy, and it will give a big boost to the investment in the aerospace and defence sector.  However, Levin said that the state will not provide free land under the policy for stakeholders. But special packages or incentives will be considered for specific companies based on the amount of money they would be investing. 

"It's high time the state had an aerospace policy of its own. The final draft is ready. The state will act as an enabler for industry investments. KSpace is acquiring acres of land for various projects, but unlike other states, the land will not be provided free of cost. However, suppose any company are ready to invest more than ₹100 cr. In that case, we can offer free land and other incentives based on their abilities to generate jobs and revenue," Levin told Onmanorama at Kerala Aviation Summit, organised by Cochin International Airport Ltd at Taj Cochin International Airport Hotel, Kochi. 

Currently, the aerospace industry in Kerala is valued at ₹2,000 crore and KSpace is associated with around 64 companies. Once the new policy is implemented, KSpace aims to raise it to ₹30,000 crore in five years. 

Even though the aerospace policy is confined to the space, defence and civil aviation sectors, Levin said that there is a possibility they will try to include seaplanes in it.

"Seaplanes have huge potential in Kerala, considering our vast coastline, numerous reservoirs and lakes. So we are looking at how it can be incorporated in the policy."

The works on KSpace's Pallippuram campus will begin in two weeks. Acquisition of around 30 acres of land in  Valiyamala and 60 acres in Veli is underway. Around 25 acres of land will be acquired in Kakkanad to set up an aerospace industrial cluster. 

"KSpace also plans to set up an Integrated Defence Industrial Park. The location for this is yet to be finalised, but it will be a high security zone somewhere in the hilly region away from residential areas," Levin said.