Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) on Wednesday signed an MoU with the Karnataka Industrial Areas Development Board (KIADB) to set up the Taiwan Electronic Manufacturing Cluster (TEMC) — an electronic manufacturing facility — in the Devanahalli IT Park near here. The facility will come up with an investment of $500 million.
The MoU was signed between the two parties after an interaction between Industries Minister R V Deshpande and the Taiwanese delegation, led by TEEMA executive director Francis Tsai. TEEMA was established in 1948 with 3,039 companies as members, having a capital of $52,639.5 million. The Association has proposed to set up a training and incubation centre in the cluster, providing employment to more than 20,000 to 30,000 people once the TEMC is fully operational. Chief Secretary Kaushik Mukherjee said, “It is a historic moment and I am glad that finally an MoU is being signed with Taiwan.
Out of every ounce of semi-conductor produced in the world, 36 per cent is contributed by Taiwan… This clearly shows the potential that TEMC will have once the set-up is complete.” Bengaluru is just next to Silicon Valley, USA, and is growing at a very fast pace. If predictions are to be believed, in another 25-30 months, the city will overtake Silicon Valley in terms of IT products, Mukherjee added. The 22-member TEEMA high-profile delegation agreed to set up TEMC in Devanahalli IT Park in 100 acres in the first phase with proposed future expansion in another 800-1,000 acre industrial park near Bengaluru. Tsai said, “The delegation from our country was here to see the prospects of setting up our industries here.
India is a growing market and hence all the countries are eyeing it for investment. We are planning to invest in Karnataka over a period of time as the site proposed by the government here is ready for starting our industrial constructions.”
Source : Indian Express, 13th August, 2015