HCL, Applied Material, others to invest ₹5,000 crore in Karnataka

Karnataka will continue to lead tech acceleration to impact businesses globally and the 24th edition of Bengaluru Technology Summit only rekindled its spirit of innovation, said C.N. Ashwath Narayan, Minister for Electronics, IT, Bt and Science & Technology.

Speaking at the finale of the three-day summit, he said, “The time has now come to drive the next set of advancements in innovative technology to support the growth of multiple sectors in the post-pandemic world. Our government is committed to working with various leading minds from different sectors to develop relevant technologies and innovations in Karnataka for the world.”

The hybrid event was inaugurated by Vice President Venkaiah Naidu and saw the virtual presence of Scott Morrison, Prime Minister of Australia, and Naftali Bennett, Prime Minister of Israel. Its Global Innovation Alliance track hosted sessions by Israel, Japan, Sweden, UK, Canada, Australia, Germany, France, Taiwan, Denmark, Netherlands, Lithuania, Switzerland, Vietnam, Finland and EU.

On the potential investment front, the Minister said HCL Technologies, Applied Material, Rakon India and Chint have evinced interest to invest ₹ 5,000 crore in Karnataka.

According to the Minister, this investment will result in setting up facilities to manufacture semiconductors, electronics, solar cells, washing machines, and motors for air conditioners in the state. These firms are also expected to create more than 15,000 direct jobs.

Tech firm HCL already has a significant presence in Bengaluru. U.S-based Applied Materials, Inc. supplies equipment, services and software for the manufacture of semiconductor (integrated circuit) chips for electronics, flat panel displays for computers, smartphones, televisions, and solar products. Rakon India is an electronic manufacturer while Noida-based Chint Electric makes isolator switches.

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Printable version | Jan 25, 2022 5:37:38 PM |

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