Karnataka Signs MoU with The Allegiance Group of Taiwan
The government of Karnataka's Department of Electronics, Information Technology, Biotechnology, and Science and Technology has revealed the approval of a significant Memorandum of Understanding with The Allegiance International of Taiwan to set up an Ind—Taiwan Industrial Park in Karnataka.
The initiation of this project, led by The Allegiance Group, involves a projected investment of approximately Rs.1,000 crore, which is expected to result in the generation of approximately 800 direct job opportunities through the establishment of businesses within ITIP within a span of 5 years.
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The ITIP is intended to function as a specialized center for Taiwanese firms operating in the Electronics and Semiconductors industries, promoting enhanced manufacturing processes, research and development, as well as innovation.
This partnership is focused on enhancing Karnataka's standing as the premier location in India for Electronics System Design and Manufacturing (ESDM), and expediting the expansion of the semiconductor ecosystem within the State.
Speaking on the occasion, Chief Minister Siddaramaiah says, “This partnership marks a significant step towards realising Karnataka’s vision of becoming a global hub for electronics and semiconductor innovation”.
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“The ITIP will attract cutting-edge technology and investments, creating opportunities for our youth and strengthening India’s position in the global value chain”.
The signing of the Memorandum of Understanding highlights Karnataka's dedication to initiatives such as Make in India, Atmanirbhar Bharat, and the India Semiconductor Mission, laying the foundation for long-term growth and international collaborations.
Lawrence Chen, VP, Allegiance Group of Taiwan, added, “We are excited to collaborate with Karnataka, a State known for its technology leadership. The ITIP will be a catalyst for Taiwanese companies to expand in India and contribute to the growth of the semiconductor and electronics ecosystem.”
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The MoU was signed by Rahul Sharanappa Sankanur, IAS, Director, Department of Electronics, IT, Bt and Mr. Lawrence Chen, VP, Allegience Group in the august presence of Chief Minister of Karnataka, Siddaramaiah, Minister for Rural Development & Panchayati Raj, Electronics, IT & Bt, Priyank Kharge and Dr. Manjula N., IAS, Secretary, Electronics, IT, Bt, Government of Karnataka.