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

Minister for Higher Education, IT&BT C.N. Ashwath Narayan expects the proposed investments to create more than 15,000 direct jobs in Karnataka.   | Photo Credit: Bhagya Prakash K.


“HCL Technologies, Applied Materials, Rakon India and Chint have evinced interest in investing ₹5,000 crore in Karnataka,” said C.N. Ashwath Narayan, Minister for Higher Education, IT&BT.

According to the Minister, the proposed investment would help create more than 15,000 direct jobs in Karnataka.

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

According to the Minister, this investment will result in setting up of facilities to manufacture semiconductors, electronics, solar cells, washing machines, and motors for air-conditioners in Karnataka.

Taking a cue from the attractive electronic systems design and manufacturing policy announced by the government, IFB and Tejas have shown interest in setting up their manufacturing facility in Karnataka. GTM has also expressed interest in setting up a unit in Chamarajanagar.

Of the companies that have shown interest in investing in Karnataka, the Minister said land has already been provided to some while other facilities would be offered in due course.

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Printable version | Jan 27, 2022 2:59:14 AM | https://www.thehindu.com/news/national/karnataka/hcl-applied-material-and-others-to-invest-5000-crore-in-karnataka/article37577884.ece

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