Hyderabad, Nov 13th: Aviation Entrepreneurs from Andhra Pradesh (SAMUHA) will set up a Special Economic Zone (SEZ) for civil and military aero sectors at Lepakshi in Anantapur district. Speaking at a luncheon session with a visiting aerospace delegation from the US on Nov 13, Andhra Pradesh Principal Industries Secretary Sam Bob said companies like Tata and Nova were already setting up aerospace units on the outskirts of Hyderabad. Urging corporates in United States to explore the possibility of investing in new SEZ coming up in the state, he said the state was an ideal place for business investments in several sectors, including the fast growing aerospace industry.

Mr Karen Zens, Deputy Assistant Secretary, Head of the US-delegation, said the delegation was touring different parts of the country over the last one week. Consul General of American Consulate (Hyderabad) Mr Conrnelis M Keur opined that ''Andhra Pradesh is a safer place for investments.'' He also thanked the CII for hosting the interactive session with the visiting US aerospace team. In his address, Mr S Balaji, Managing Director, Lepakshi Knowledge Hub Private Limited, said ''India is the second largest buyer of arms and armaments in the world and expected to spend 80 billion US dollar for buying in the next five years.

Mr Shakti Sagar, CII Vice-Chairman (Andhra Pradesh) and MD of ADP Private Limited, said the Indian aerospace industry was one of the fastest growing aerospace markets in the world. The rapid growth of the sector in India has attracted major global aerospace companies into the country, he said. India is seen as a major hub for MRO units and it is estimated to grow at 10 per cent, he said.