HCL and others to invest ₹5,000 cr in state

Karnataka Minister for Higher Education, IT and BT, Dr. C N Ashwath Narayan on Thursday said HCL, Applied Material, Rakon, and others have come forward to invest more than ₹5,000 crore in the state.

Addressing media at the Bengaluru Tech Summit 2021, he said this investment will entail the generation of more than 15,000 additional jobs in the state.

He said taking a cue from the attractive electronic systems design and manufacturing policy announced by the government, IFB and Tejas Networks too have evinced interest in setting up their manufacturing facility in the state. Besides, GTM has also conveyed its expression of interest to set up a unit in Chamarajanagara.

Of the companies that have shown interest in investment, Dr. Narayan said some have been provided with the land while facilities are expected to be extended to the remaining companies.

The minister said as a result of the investment, facilities to manufacture semiconductors, electronics, solar cells, washing machines, and motors for air conditioners will be possible. The Hindu BusinessLine