Taiwan industry body to invest $500 m in Devanahalli

Taiwan industry body to invest $500 m in Devanahalli

Taiwan industry body to invest $500 m in Devanahalli

 Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) on Wednesday signed a memorandum of understanding (MoU) with the Karnataka government to set up a $500-million Taiwan Electronic Manufacturing Cluster (TEMC) near Bengaluru.

Talking to Deccan Herald, TEEMA India Economic and Trade Committee Chairman Francis Tsai, who also led the trade delegation of 25 Taiwanese companies, said he is satisfied with the facilities provided by the government.

“TEMC is to come up on 100 acres of land near Devanahalli IT Park. Around 40 per cent of land here is already booked by three Taiwanese companies. We will start production within six to twelve months and later look forward to invest more,” he said.

When asked about the advantage of investing in Karnataka, he said the state has well developed infrastructure and talent pool which can be tapped to enhance the capabilities of TEMC.

“We want to make it into a  full-fledged Taiwanese city to host IT and telecommunication giants which will design and manufacture products, besides doing system integration,” he said.

TEEMA, founded in 1948, has a membership of 3,039. The association has made capital investments of $52,639.5 million and employs 7,63,501 workers.

Training and incubation

Tsai also proposed to the Karnataka government to set up a training and incubation centre in the cluster, which can provide employment to more than 20,000 to 30,000 people once TEMC is fully operational.

“Once we get good feedback from the companies which invest here, then we will acquire another 1,000 acres for expansion,” said Tsai.

Karnataka Additional Chief Secretary (Commerce and Industry) K Ratna Prabha said, “We are silently doing our moves which have really brought good results in bringing ease of doing business in the state.”

She added, “The proof is the fact that till now this year we have garnered Rs 95,000 crore in investments, which is second only to Gujarat.”