Connect with us

Headlines of The Day

Karnataka invites US companies to invest in MedTech, other sectors

Minister for Large and Medium Industries and Infrastructure Development MB Patil invited US-based aerospace company RTX Corporation (formerly Raytheon Technologies), and integrated satellite and terrestrial network provider Intelsat to invest in Karnataka.

Patil, along with senior officials of the industries department, is on a 12-day visit to the US. He is meeting a slew of companies drawn from semiconductor, aerospace and defence auto/EV, space, and MedTech, among others.

Dr S Selvakumar, principal secretary of the Department of Commerce and Industries for the Government of Karnataka and Gunjan Krishna, Commissioner for Industrial Development and Director, Industries and Commerce, will accompany the minister along with other officials.

During his meeting with the aerospace major RTX Corporation (formerly Raytheon Technologies), Patil discussed the possibilities of exploring partnerships with the company. The senior leadership of RTX Corporation (formerly Raytheon Technologies) discussed enhancing supply chain connections and considering electronics manufacturing in Karnataka.

Addressing the industry leaders in the USA, Minister Patil said, “We are going to meet some of the prestigious companies here in the United States to understand their requirements and invite them to Karnataka for expansion or collaboration.”

RTX Corporation’s subsidiary, Blue Canyon, will explore partnerships with space industry startups for technology collaborations. The company also discussed partnering with the government and educational institutions to nurture a talent pipeline.

The $67.1 billion revenue-generating RTX Corporation has a presence in India for more than 25 years with an R&D facility, customer training centre and operations and engineering unit in Bengaluru.

In India, RTX Corporation operates through its four divisions—Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles and Defense. With a workforce of more than 5,000 professionals, the company is actively involved in design, capability, and engineering centres for its clientele, which includes Indian airlines, airports, and commercial manufacturers such as Boeing and Airbus.

Pratt and Whitney inaugurated a new India Engineering Center in Bengaluru in January 2023, co-located with its India Capabilities Center, which was established in 2022 to provide integrated global supply chain support. Raytheon has a manufacturing and two R&D centres in Bengaluru.

The delegation also held discussions with the International Telecommunications Satelite Organization (Intelsat), which has a long history of collaboration with the Indian Space Research Organisation (ISRO). Intelsat discussed the possibilities of expanding the operational scope of its Indian arm and satellite-sourcing opportunities from Indian space start-ups. The company also discussed exploring collaboration opportunities in software solutions and the role of AI/ML in satellite communications.

Intelsat also discussed the possibility of establishing a global capability centre as part of its long-term planning in India.

Separately, at the US India SME Council Meet, Minister Patil interacted with about 30 CEOs from various sectors and invited them to invest in Karnataka. He shared investment opportunities in sectors like MedTech, ITBT, education, automobile, A&D, and ESDM with the CEOs and invited them to invest in Karnataka and explore opportunities in the state.

US India SME Council is a non-profit membership-based organization dedicated to fostering economic and business relations between the United States and India, mainly focusing on small and medium-sized enterprises (SMEs).

The minister held a discussion with Elisha Pulivarti, CEO and president of the U.S. India SME Council, Rajan Natarajan, CEO and founder of Global Alliance, and Marc Elrich, Executive for Government of Montgomery County of Maryland. Outlook Startup

Copyright © 2024 Medical Buyer

error: Content is protected !!