Karnataka Partners with Taiwan for Industrial Tech Boom

Karnataka government partners with Taiwan's Allegiance International to establish the Indo-Taiwan Industrial Technology Innovation Park aiming for a Rs 1,000 crore investment. The project promises significant job creation and aims to position Karnataka as a leader in the electronics and semiconductor sectors.

The Karnataka government has signed a major agreement with Allegiance International Co Ltd of Taiwan to establish the Indo-Taiwan Industrial Technology Innovation Park (ITIP) in the state. With an estimated investment of around Rs 1,000 crore, this collaboration intends to boost electronics and semiconductor sectors in the region.

The signing ceremony saw Rahul Sharanappa Sankanur, Director of the Department of Electronics, IT, BT, and Lawrence Chen, VP of Allegiance Group, in presence of Chief Minister Siddaramaiah and Minister Priyank Kharge. The ITIP is expected to create 800 direct jobs over the next five years as companies set up operations.

Targeting the electronics and semiconductors industries, the ITIP will host Taiwanese firms, enhance the supply chain for components and chip design, and establish skill development programs. The project is a step forward for Karnataka's ambition to lead in Electronics System Design and Manufacturing, while attracting global tech investments.

(With inputs from agencies.)