Kerala

Kerala woos investments from South-East Asia in IT, electronics

Government signs MoU with IESA

The State government has signed a memorandum of understanding (MoU) with the India Electronics and Semiconductor Association (IESA) to attract high-value investments from South-East Asia and access lucrative markets in the region known as Asia’s technology hub.

M. Sivasankar, Secretary, Electronics and Information Technology, and IESA president M.N. Vidyashankar signed the agreement here on Thursday in the presence of Chief Minister Pinarayi Vijayan.

Under the agreement, Kerala will partner with the IESA to set up a liaison agency in Taiwan to promote the investment potential of the State’s electronics system design and manufacturing (ESDM) sector. The other target countries are South Korea and the Philippines. The agency will conduct two annual roadshows, one each in Taiwan and Kerala, and organise delegation visits.

The thrust segments for investment will be consumer, industrial and solar electronics apart form medical products and automotive electronic devices. For mobilising investment, the agency will identify and facilitate tie-ups between leading firms in the target countries and homegrown entities within or outside the State’s Electronics Manufacturing Clusters (EMCs).

Hardware hub

“This partnership is in line with the government’s development strategy to transform Kerala into a manufacturing hub for IT hardware. By providing additional avenues for investment, collaboration, and expansion, it will complement the government’s efforts to re-energise the State’s electronics manufacturing capacity and its vibrant start-up ecosystem,” Mr. Sivasankar said.

“Given the region’s status as a top-tier technology hub, potential investment opportunities, and ease of doing business, they will provide an important safety net to Kerala’s fast-growing IT ecosystem,” Mr. Vidyashankar said.

The IESA will also prepare a strategic roadmap, outlining brand marketing and potential investment opportunities for the next five years.

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Printable version | Feb 26, 2020 12:03:35 AM | https://www.thehindu.com/news/national/kerala/kerala-woos-investments-from-south-east-asia-in-it-electronics/article19179991.ece

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